NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Whether the Modified Rehabilitation Scheme (MRS) sanctioned by BIFR included waiver of customs demand: court found Customs had full opportunity to object, BIFR's language "to consider" applied to Income-tax and Central Excise but the scheme explicitly addressed non-fulfilment of export obligations under DGFT and referenced the Rs.81.60 lakh demand identical to the Customs O-O; consequence - the challenge that no positive direction was issued on the Rs.81.60 lakh demand was rejected and the demand falls within the MRS. Whether consolidation of licences required: treated as a factual, administrative step to implement waiver directions - consequence: not legally contentious. Impugned order set aside. - HC
Whether the Modified Rehabilitation Scheme (MRS) sanctioned by BIFR included waiver of customs demand: court found Customs had full opportunity to object, BIFR's language "to consider" applied to Income-tax and Central Excise but the scheme explicitly addressed non-fulfilment of export obligations under DGFT and referenced the Rs.81.60 lakh demand identical to the Customs O-O; consequence - the challenge that no positive direction was issued on the Rs.81.60 lakh demand was rejected and the demand falls within the MRS. Whether consolidation of licences required: treated as a factual, administrative step to implement waiver directions - consequence: not legally contentious. Impugned order set aside. - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
