Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Where customs duty was demanded for breach of notification conditions and penalty was imposed under Section 112(ii) of the Customs Act, the Tribunal held that the reduced-penalty option under Section 114A could not be applied, because that concession is tied to cases where duty is determined under Section 28 and penalty follows that provision. As Section 112(ii), during the relevant period, prescribed only the penalty range and no 25% payment option, the penalty could not be sustained on that reduced basis. The matter was remanded for fresh determination of customs penalty strictly under Section 112(ii). The respondent's cross objections were treated as an appeal and also remanded for reconsideration of the penalty challenge.
Where customs duty was demanded for breach of notification conditions and penalty was imposed under Section 112(ii) of the Customs Act, the Tribunal held that the reduced-penalty option under Section 114A could not be applied, because that concession is tied to cases where duty is determined under Section 28 and penalty follows that provision. As Section 112(ii), during the relevant period, prescribed only the penalty range and no 25% payment option, the penalty could not be sustained on that reduced basis. The matter was remanded for fresh determination of customs penalty strictly under Section 112(ii). The respondent's cross objections were treated as an appeal and also remanded for reconsideration of the penalty challenge.
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