Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
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...
Mandatory BIS registration for specified electrical imports was held to be a procedural requirement whose superseding Quality Control Order operates prospectively, so there was no retrospective obligation at import; the superseding order deferred registration and expressly excluded prior acts. Because the breach was procedural and there was no mens rea by the importer, confiscation and penalty were deemed unwarranted. The operative relief ordered was payment of a redemption fine of Rs. 15,000 and release of the goods on payment within one week of receiving the certified order.
Mandatory BIS registration for specified electrical imports was held to be a procedural requirement whose superseding Quality Control Order operates prospectively, so there was no retrospective obligation at import; the superseding order deferred registration and expressly excluded prior acts. Because the breach was procedural and there was no mens rea by the importer, confiscation and penalty were deemed unwarranted. The operative relief ordered was payment of a redemption fine of Rs. 15,000 and release of the goods on payment within one week of receiving the certified order.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
