Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
A customs broker's penalty under the residuary provision was set aside because its role was limited to filing Bills of Entry on importer-supplied information, with no proof that it advised or was responsible for the incorrect tariff classification. The Tribunal held that the statutory duty to make a truthful declaration lay on the importer, and unproven allegations of CBLR violations could not sustain liability under Section 117. It also held that post-resolution show cause notices could not survive once the importers' resolution plan had been approved, as pre-resolution claims not included in the plan stood extinguished under insolvency law. The consequential demands were therefore unsustainable.
A customs broker's penalty under the residuary provision was set aside because its role was limited to filing Bills of Entry on importer-supplied information, with no proof that it advised or was responsible for the incorrect tariff classification. The Tribunal held that the statutory duty to make a truthful declaration lay on the importer, and unproven allegations of CBLR violations could not sustain liability under Section 117. It also held that post-resolution show cause notices could not survive once the importers' resolution plan had been approved, as pre-resolution claims not included in the plan stood extinguished under insolvency law. The consequential demands were therefore unsustainable.
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