International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
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Payments of Rs. 19,66,698.77 made to a related party director within the two year look back period were treated as preferential transactions because the payments reduced the corporate debtor's liability to the related party and could not be excluded by tracing the source of funds. The tribunal held that Regulation 35A timelines are directory, not mandatory, and principles of natural justice were not breached where the adjudicating authority considered the appellant's written objections on merits despite an earlier ex parte notation. The liquidator's investigative power during liquidation to challenge preferential or undervalued transactions validated the challenge; appeals were dismissed.
Payments of Rs. 19,66,698.77 made to a related party director within the two year look back period were treated as preferential transactions because the payments reduced the corporate debtor's liability to the related party and could not be excluded by tracing the source of funds. The tribunal held that Regulation 35A timelines are directory, not mandatory, and principles of natural justice were not breached where the adjudicating authority considered the appellant's written objections on merits despite an earlier ex parte notation. The liquidator's investigative power during liquidation to challenge preferential or undervalued transactions validated the challenge; appeals were dismissed.
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