Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
Terminal gate verification for transshipment containers shifts to operators, while Customs controls and discrepancy reporting requirements remain mand...
Section 32A was applied to protect the corporate debtor's property from attachment where an approved resolution plan had been implemented with a qualifying change in management. The Tribunal, following Manish Kumar, held that statutory immunity extends to property covered by the approved plan for offences committed before commencement of CIRP, so long as control passes to persons unconnected with the erstwhile management and not shown to have abetted or conspired in the offence. It rejected the argument that PMLA attachment could continue merely because the property was alleged to be proceeds of crime, and also noted that the underlying claim had already been finally rejected in insolvency proceedings. The attachment orders were set aside.
Section 32A was applied to protect the corporate debtor's property from attachment where an approved resolution plan had been implemented with a qualifying change in management. The Tribunal, following Manish Kumar, held that statutory immunity extends to property covered by the approved plan for offences committed before commencement of CIRP, so long as control passes to persons unconnected with the erstwhile management and not shown to have abetted or conspired in the offence. It rejected the argument that PMLA attachment could continue merely because the property was alleged to be proceeds of crime, and also noted that the underlying claim had already been finally rejected in insolvency proceedings. The attachment orders were set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
