Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
Separately Identifiable Services: transportation found to be the essential character, so Cargo Handling classification and extended limitation rejecte...
Valuation of security shares was treated as a separate issue and not decided on merits; the tribunal held that rejecting the company petition solely because valuation was to be determined by a parallel forum was impermissible, so the petition must be decided independently on its own merits. Consequently, the impugned order rejecting the petition was quashed and the company petition revived for adjudication. The decision emphasises that valuation proceedings before a debt recovery forum cannot automatically preclude maintainability of an insolvency petition and that parallel-forum directions in prior judgments do not oust independent section-wise adjudication under the insolvency regime.
Valuation of security shares was treated as a separate issue and not decided on merits; the tribunal held that rejecting the company petition solely because valuation was to be determined by a parallel forum was impermissible, so the petition must be decided independently on its own merits. Consequently, the impugned order rejecting the petition was quashed and the company petition revived for adjudication. The decision emphasises that valuation proceedings before a debt recovery forum cannot automatically preclude maintainability of an insolvency petition and that parallel-forum directions in prior judgments do not oust independent section-wise adjudication under the insolvency regime.
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