Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
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
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