NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Duty paid under protest in a customs classification dispute became refundable once the classification was finally decided in the importer's favour, and the refund followed as a natural consequence of the adjudication. The Tribunal held that money collected and retained contrary to law could not be kept without compensating the importer by way of interest, especially where the Revenue had enjoyed the benefit of the deposit from the date of import. It rejected the Revenue's reliance on authorities dealing with different factual settings and upheld the appellate order granting interest on the refunded amount, dismissing the Revenue's appeal.
Duty paid under protest in a customs classification dispute became refundable once the classification was finally decided in the importer's favour, and the refund followed as a natural consequence of the adjudication. The Tribunal held that money collected and retained contrary to law could not be kept without compensating the importer by way of interest, especially where the Revenue had enjoyed the benefit of the deposit from the date of import. It rejected the Revenue's reliance on authorities dealing with different factual settings and upheld the appellate order granting interest on the refunded amount, dismissing the Revenue's appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
