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...
The MPID Act was held to have overriding effect in a dispute over seized funds linked to investor claims, and the Special Court was found competent to decide release of the money despite seizure under the Income-tax Act and objections based on the PMLA. The Court relied on the direct nexus between the funds and investors' claims, and on the purpose of the MPID Act as protective depositor legislation that cannot be displaced by enactments operating in a different field. It also upheld release of the money to an escrow mechanism for investor restitution, noting that the settlement contemplated that course and that the release was justified on the facts. The appeal was dismissed.
The MPID Act was held to have overriding effect in a dispute over seized funds linked to investor claims, and the Special Court was found competent to decide release of the money despite seizure under the Income-tax Act and objections based on the PMLA. The Court relied on the direct nexus between the funds and investors' claims, and on the purpose of the MPID Act as protective depositor legislation that cannot be displaced by enactments operating in a different field. It also upheld release of the money to an escrow mechanism for investor restitution, noting that the settlement contemplated that course and that the release was justified on the facts. The appeal was dismissed.
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