Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
Whether the revenue must follow a binding ITAT Special Bench ruling on the tax rate applicable to capital gains computed under Section 50 and chargeable under Section 112: the court held that the Commissioner erred by refusing to apply the ITAT Special Bench decision, improperly treating it as non-final because the department contests it and one member dissented; administrative disagreement does not permit disregard of a binding tribunal decision. Reasoning: lower authorities cannot refuse to follow binding appellate rulings based on personal views of correctness. Outcome: impugned order set aside and matter remanded for a fresh order applying the ITAT Special Bench decision. - HC
Whether the revenue must follow a binding ITAT Special Bench ruling on the tax rate applicable to capital gains computed under Section 50 and chargeable under Section 112: the court held that the Commissioner erred by refusing to apply the ITAT Special Bench decision, improperly treating it as non-final because the department contests it and one member dissented; administrative disagreement does not permit disregard of a binding tribunal decision. Reasoning: lower authorities cannot refuse to follow binding appellate rulings based on personal views of correctness. Outcome: impugned order set aside and matter remanded for a fresh order applying the ITAT Special Bench decision. - HC
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