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...
Imported bearing assemblies used solely as automotive components were held classifiable under CTH 87087000 as parts of motor vehicles, because the exclusionary notes in Sections XVI and XVII did not resolve the tariff conflict and Note 3 to Section XVII required application of the sole or principal use test. The goods were not treated as bearings simpliciter, but as ready-to-fit assemblies for car wheels and rear drum assemblies. The Tribunal also held that the dispute was interpretational in nature, so penalties were not warranted; the penalties in two appeals were set aside. The challenge that the lower appellate authority had travelled beyond the show cause notices was rejected.
Imported bearing assemblies used solely as automotive components were held classifiable under CTH 87087000 as parts of motor vehicles, because the exclusionary notes in Sections XVI and XVII did not resolve the tariff conflict and Note 3 to Section XVII required application of the sole or principal use test. The goods were not treated as bearings simpliciter, but as ready-to-fit assemblies for car wheels and rear drum assemblies. The Tribunal also held that the dispute was interpretational in nature, so penalties were not warranted; the penalties in two appeals were set aside. The challenge that the lower appellate authority had travelled beyond the show cause notices was rejected.
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