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...
Actual-user and non-transferability conditions under Notification No. 32/2005-Cus. required the claimant to prove eligibility; the Tribunal found appellants failed this burden because endorsed licence details were missing, job-workers denied receipt, addresses were false or non-existent, contemporaneous records were absent, and arrangements indicated high-seas sales and third party control, cumulatively supporting diversion of duty free imports rather than bona fide use. The principle that exemption is an exception and claimants must produce the best evidence was applied, sustaining demand, confiscation and penalties, but the penalty proposed under section 112 was set aside for procedural infirmity following the jurisdictional High Court.
Actual-user and non-transferability conditions under Notification No. 32/2005-Cus. required the claimant to prove eligibility; the Tribunal found appellants failed this burden because endorsed licence details were missing, job-workers denied receipt, addresses were false or non-existent, contemporaneous records were absent, and arrangements indicated high-seas sales and third party control, cumulatively supporting diversion of duty free imports rather than bona fide use. The principle that exemption is an exception and claimants must produce the best evidence was applied, sustaining demand, confiscation and penalties, but the penalty proposed under section 112 was set aside for procedural infirmity following the jurisdictional High Court.
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