Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
Valuation of mixed used/unused imported toolroom parts must follow the sequential methodology of the Customs Valuation Rules, resorting to the residual method only if Rules 3-8 cannot be applied; a Chartered Engineer certificate and unverified contemporaneous import data cannot alone justify rejection of the transaction value, and redetermination based solely on such a certificate is unlawful. Where the declared description matched the CE certificate and first check examination occurred, findings of intentional mis declaration were unsupported; consequential confiscation, redemption fine and penalty were set aside and reassessment was held unsustainable.
Valuation of mixed used/unused imported toolroom parts must follow the sequential methodology of the Customs Valuation Rules, resorting to the residual method only if Rules 3-8 cannot be applied; a Chartered Engineer certificate and unverified contemporaneous import data cannot alone justify rejection of the transaction value, and redetermination based solely on such a certificate is unlawful. Where the declared description matched the CE certificate and first check examination occurred, findings of intentional mis declaration were unsupported; consequential confiscation, redemption fine and penalty were set aside and reassessment was held unsustainable.
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