Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
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...
Reduction of share capital under Section 66 was examined for jurisdictional defects in appellate bench composition, procedural sufficiency of the statutory notice and disclosures, independence of the valuer, and the permissibility of applying a discount for lack of marketability (DLOM). The Court found no jurisdictional defect in the tribunal's bench composition and declined to disturb the tribunal orders. It held Section 66 does not require inclusion of a valuation report in the notice where the offered price and reports are available for inspection, rejected a claim of demonstrable valuer bias, and accepted that DLOM and the valuation were not manifestly unreasonable, so the reduction stands.
Reduction of share capital under Section 66 was examined for jurisdictional defects in appellate bench composition, procedural sufficiency of the statutory notice and disclosures, independence of the valuer, and the permissibility of applying a discount for lack of marketability (DLOM). The Court found no jurisdictional defect in the tribunal's bench composition and declined to disturb the tribunal orders. It held Section 66 does not require inclusion of a valuation report in the notice where the offered price and reports are available for inspection, rejected a claim of demonstrable valuer bias, and accepted that DLOM and the valuation were not manifestly unreasonable, so the reduction stands.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
