Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Tribunal held that where original goods were exported, a replacement consignment was subsequently exported and the defective originals were re-imported, and a chartered accountant certified no extra charge and that export benefits were claimed only once, the re-importation falls under the provision for replacement consignments (Sr. No. 5) rather than the general re-importation entry (Sr. No. 1). Consequently the appellant may retain the export benefits taken on the original export, is not liable to reverse them with interest, and the amount surrendered to clear the re-imported goods must be refunded on application.
Tribunal held that where original goods were exported, a replacement consignment was subsequently exported and the defective originals were re-imported, and a chartered accountant certified no extra charge and that export benefits were claimed only once, the re-importation falls under the provision for replacement consignments (Sr. No. 5) rather than the general re-importation entry (Sr. No. 1). Consequently the appellant may retain the export benefits taken on the original export, is not liable to reverse them with interest, and the amount surrendered to clear the re-imported goods must be refunded on application.
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