Refund of duplicated customs-duty payment may not be denied merely because an ICEGATE challan was not generated for the first payment. Where the importer provides the banking and payment records required by the Public Notice, verification through PAO/e-PAO and ICEGATE falls to the proper officer; an unavailable challan resulting from departmental system failure cannot be imposed as a refund condition. Refunds processed under the procedure for customs-duty refunds attract statutory interest where payment is not made within the prescribed period, at the rate notified by the Government.

Secured creditors must clearly and timely elect to realise a security interest outside the liquidation estate; merely recording a security interest in Form D does not communicate that election. An email sent after a compromise scheme fails cannot retrospectively cure non-compliance with Regulation 21A. Participation and voting in the Stakeholders' Consultation Committee are relevant, while consideration of a scheme under the Companies Act neither suspends nor extends the election period. Consequently, without a valid timely election, hypothecated assets remain in the liquidation estate and cannot be realised independently.

Corporate veil lifting for real estate project resolution treated the developer and the land-owning special purpose company as a single economic entity, bringing the leasehold land within the restored resolution plan. Allottee claims arising from the same project were addressed through completion and delivery under that plan, leaving no independently due debt to support a separate insolvency process. A parallel CIRP over the project land would impose a moratorium and vest management in an insolvency professional, obstructing implementation of the restored plan. The Monitoring Committee responsible for plan implementation had standing as an aggrieved person, and binding Supreme Court precedent required consideration. Allottees' remedy lay in enforcing the restored plan.

Suspension of an insolvency professional's registration renders the professional ineligible to continue in any ongoing insolvency process, rather than only the assignment underlying disciplinary action. Regulation 13(7) requires intimation of the suspension to the relevant Committees of Creditors and the Adjudicating Authority, operating separately from the Committee's commercial power to replace an otherwise eligible resolution professional. Challenges concerning disclosure, valuation, statutory recourse and disciplinary procedure raised issues for final consideration but did not establish a prima facie case, balance of convenience or irreparable injury. Interim stay of the disciplinary suspension was therefore declined, without determining the main appeal's merits.

FEMA adjudication concerning under-invoiced imports remains independent of Customs valuation and duty proceedings, and statements recorded under the Customs Act may be considered. Seized electronic records carry a rebuttable presumption of truth where their integrity is established; unrebutted records and related statements can prove foreign-exchange contraventions on a preponderance-of-probabilities standard. Contraventions may be sustained for documented import entries, but projections or extrapolations from electronic data require corroborative evidence and cannot alone support allegations. A person in charge of a company is personally liable for established corporate contraventions to the same evidence-based extent.

Specific nil-rate exemption entries for namkeen and similar edible preparations apply to Cheese Balls and Bhujia cleared in sealed retail pouches. Cheese Balls fall within the specific entry for similar ready-to-consume edible preparations, while the residual packaged-food entry applies only where no specific description covers the goods; sealed packaging does not displace the specific exemption. Bhujia is expressly covered by a separate specific entry, and its sealed-container restriction cannot be imported from a differently worded residual entry. Classification under Tariff Item 2106 90 99 remains within sub-heading 2106 90, so it does not exclude eligibility where the exemption refers to that sub-heading. Nil-rate treatment consequently applies and related duty, interest and penalties are unsustainable.

Other misconduct - scope of disciplinary proceedings - complaint not withdrawable once filed - application of pre-amendment law to pending matters - limited scope of judicial interference under Article 226 - removal from Register of Members as disciplinary punishment HELD THAT:- We see no reason to interfere with the order of the High Court [2024 (11) TMI 1274 - DELHI HIGH COURT], in exercise of our jurisdiction under Article 136 of the Constitution of India. The present petition is, accor... ... ...

Clubbing of clearances - Lifting of corporate veil - Pervasive financial and management control - SSI exemption aggregation - Suppression of material facts and extended period of limitation HELD THAT:- Appeals dismissed, no ground being found to interfere with the impugned order[2016 (11) TMI 868 - CESTAT BANGALORE]... ... ...

Delay of 451 days in filing the appeal - Appellant has urged that he was unable to seek legal advice. Secondly that he had followed the directions contained in the order passed by the WTM and issued public notice and was under the impression that the matter was closed. Thirdly, that appellant's father was unwell - HELD THAT:- The Tribunal refused to condone the delay because appellant had already taken legal action in 2022, so the excuse of no legal assistance was rejected. By complying with the... ... ...

TP Adjustment - Letter of comfort/corporate guarantee commission - Expenditure relating to exempt income-Rule 8D disallowance - Club subscription expenditure-Business purpose and personal use - Interconnected assessment years-Sequential adjudication - Weighted deduction for approved in-house research and development facilities - Foreign-currency forward contracts-Revenue or capital loss - Additional depreciation-Carried-forward balance allowance Transfer pricing Adjustment - Corporate guarant... ... ...

Estimation of profits without rejection of books of account Estimated profits from the residential project 'Ambience Greendale' without rejection of the regularly maintained and audited books of account - HELD THAT: - The Assessing Officer neither identified any discrepancy in the financial statements nor rejected the books of account before estimating the project's profits. Comparison with projects eligible for deduction under section 80IB(10) was untenable without accounting for... ... ...

Estimation of net profit after rejection of books - Reference to DVO for sale below stamp duty value - Unrecorded cash sales after profit estimation - Unexplained bank deposits after profit estimation - TDS disallowance after rejection of books Estimation of net profit after rejection of books - Estimation of net profit at 5% on gross receipts and unrecorded sales of flats after rejection of books - HELD THAT: - The earlier year in which the assessee had maintained regular books and filed its... ... ...

Prior approval under section 153D - Separate approval for each assessment year - Mechanical approval Validity of assessments passed under sections 143(3) and 153A pursuant to a composite and mechanically granted approval under section 153D - HELD THAT: - Prior approval under section 153D is an in-built statutory safeguard which must be separately obtained for each assessment year and must reflect independent application of mind to the draft assessment orders and record. The composite approval... ... ...

Validity of scrutiny notice issued without pecuniary jurisdiction - Section 124(3) and pecuniary jurisdiction - Binding CBDT jurisdictional instruction - Validity of assessment framed under section 144 for want of a valid section 143(2) notice issued by the officer having pecuniary jurisdiction under the applicable CBDT instruction - HELD THAT: - The CBDT instruction allocating cases by returned income was binding on the field authorities. Since the assessee's returned income placed the c... ... ...

Foreign tax credit denied - directory requirement of Form 67 - delayed filing of Form 67 - HELD THAT: - Following the Tribunal's earlier order in the assessee's own case [2024 (4) TMI 343 - ITAT DELHI] and applying judicial consistency, the Tribunal held that filing or uploading Form 67 is directory and not mandatory. Since the form had subsequently been filed, the foreign tax credit claim could not be denied solely for delay in such filing. [Paras 4] The foreign tax credit claim w... ... ...

Section 11 exemption - belated furnishing of Form 10B - Appellate remedy notwithstanding rejection of condonation Entitlement to exemption under section 11 where Form 10B was furnished after the prescribed time but was available while the return was processed, notwithstanding rejection of the condonation application - HELD THAT: - Following the coordinate ruling [2025 (8) TMI 1877 - ITAT CHENNAI] the Tribunal held that delayed furnishing of Form 10B does not automatically disentitle an assess... ... ...

Unexplained cash credit - sale proceeds of previously accepted unlisted equity investments - Identity, creditworthiness and genuineness Addition as unexplained cash credit on sale proceeds of unlisted equity shares, despite earlier acceptance of the investments and documentary proof of the purchasers - HELD THAT: - The underlying investments had been accepted in earlier scrutiny assessments. The assessee and the purchasers had furnished returns, audited financial statements, bank statements, ... ... ...

Charitable exemption - directory requirement of filing audit report in Form No. 10B - belated filing of audit report in Form No. 10B - Directory procedural requirement HELD THAT: - Following the co-ordinate Bench ruling Victoria Education Trust [2025 (8) TMI 1877 - ITAT CHENNAI] on an identical controversy, the Tribunal held that filing the audit report in Form No. 10B within the prescribed time is directory and not mandatory. A delayed filing of that report, therefore, does not automatically... ... ...

Pecuniary jurisdiction for reassessment notice - Void assessment for jurisdictional defect Validity of reassessment initiated by an Income-tax Officer lacking pecuniary jurisdiction under CBDT Instruction No. 1/2011 in respect of a non-corporate assessee in a mofussil area - HELD THAT: - The applicable CBDT Instruction assigned cases exceeding the prescribed pecuniary limit to the Assistant or Deputy Commissioner. The Revenue did not rebut that the notice under section 148 had been issued by ... ... ...

Applicability of section 115JB to banking companies - Applicability of minimum alternate tax under section 115JB to a banking company governed by the Banking Regulation Act, 1949 HELD THAT: - The Revenue fairly accepted that the question stood decided against it by the Karnataka High Court [2021 (7) TMI 1411 - KARNATAKA HIGH COURT]. The Court accordingly answered the substantial question in favour of the assessee. [Paras 2, 5] Section 115JB was held inapplicable to the banking company, and... ... ...