Declared transaction value for imported Main PCB Boards was rejected where the importer functioned as a commission conduit, imports were arranged through the overseas supplier, and goods were immediately supplied to the domestic beneficiary. Customs value was redetermined using the lowest contemporaneous value of comparable goods from the same country, period and quantities; absence of declared technical distinctions prevented a challenge to comparability. Duty, interest and confiscation followed the finding of suppression and undervaluation. Penalties for misdeclaration and abetment were sustained against persons involved in arranging, facilitating and benefiting from the imports. Cross-examination was treated as unnecessary where liability rested on documentary evidence and voluntary admissions rather than investigating officers' statements.

Drawback Brand Rate and Special Brand Rate applications filed after the initial period but within twelve months of the Let Export Order require liberal consideration because the drawback scheme is beneficial in nature. A narrow or technical approach to delay within the statutorily extendable period is inappropriate. Delay in the relevant applications was condoned, and the applications were remanded for consideration on merits and fixation of the applicable drawback rate in accordance with law, with consequential relief.

Finality of prior adjudication barred a former director from challenging creditors' claims in winding-up proceedings in an individual capacity. Earlier proceedings between the former director and the Official Liquidator had conclusively determined that he lacked locus standi to raise such objections. Because that determination had attained finality between the parties and arose in identical circumstances, no different position applied. The appeal was therefore not maintainable and was dismissed with costs.

Statutory requirement of a written complaint for offences under the Securities Contracts (Regulation) Act governs court cognizance, even where police may investigate a cognizable offence. A police report cannot support cognizance by the Sessions Court, although investigation material may be used by the competent authority to file a compliant complaint before the appropriate court; the related FIR proceedings were quashed without barring fresh lawful action. Criminal breach of trust requires entrustment and dishonest misappropriation, while cheating requires dishonest inducement for delivery of property. Allegations concerning dabba trading lacked these ingredients, including proof of loss or wrongful gain, so proceedings for those offences were quashed while investigation of remaining offences continued.

Section 44(1)(c) of the PMLA permits committal of a scheduled-offence case to the Special Court only after both the scheduled offence and the money-laundering complaint have been taken cognizance of by different courts. A pre-cognizance appearance notice under the BNSS does not satisfy that requirement, and absence of the required prosecution sanction further makes a committal request premature. Committal remains discretionary and must serve the interests of justice, including avoiding inconsistent findings without delaying a substantially concluded scheduled-offence trial. Where evidence and final arguments have substantially progressed, transfer to a Special Court dealing with a complaint still at the pre-cognizance stage may prejudice the accused and undermine speedy trial.

PMLA twin conditions for regular bail were not satisfied because the corporate executive failed to show reasonable grounds for believing that he was not guilty of money laundering or unlikely to commit an offence while on bail. Alleged undervalued sales of corporate land under revoked board resolutions, diversion of unrecorded cash, and non-compliance with asset-disposal safeguards for depositor repayment indicated possible proceeds-of-crime laundering rather than a merely corporate or civil irregularity. Continuing investigation, absconding co-accused, and risks of witness intimidation and data manipulation further supported refusal of bail. Age, detention, medical grounds, and parity with a land broker did not displace the statutory requirements. Regular bail was refused and the application dismissed.

Customs Brokers Licensing Management System (CBLMS) is introduced as a central online platform for end-to-end management of Customs Broker licensing processes. Its initial Customs Broker profile module requires integration of existing broker data and profile creation on the portal by Customs Brokers licensed under the applicable licensing framework. The system seeks to digitise administration, reduce physical interface, promote procedural uniformity, enable timely processing, and enhance accountability. Login credentials are linked to ICEGATE-registered mobile numbers, with portal guidance and helpdesk support available for profile-related issues.

High seas sale transactions are characterised predominantly as sales of imported goods where the buyer pays a composite invoiced amount including letter of credit charges and other seller-incurred costs. A trader that neither issues a letter of credit nor provides a payment guarantee does not render banking or financial services merely by recovering its letter of credit costs from the buyer. Those charges form part of the sale consideration, and transfer of title in goods by sale falls outside the definition of service under the post-negative-list regime. Because obtaining the letter of credit is incidental to executing the sale, the composite price cannot be split to tax the embedded charges separately as a service.

Personal liability for cheque dishonour under the Negotiable Instruments Act requires proof of a legally enforceable debt owed by the drawer. Documentary material transferring trust management and liabilities to newly inducted trustees, together with rent receipts recognising payments by the trust's management, supported the position that the alleged dues belonged to the trust rather than the former trustee personally. Uncorroborated allegations of advances did not establish personal liability and could rebut statutory presumptions. An acquittal may be disturbed on appeal only where it is perverse, manifestly illegal, or unsupported by evidence; where two reasonable views are possible, the reinforced presumption of innocence precludes interference.

Failure to maintain the prescribed Net Owned Fund justified cancellation of an NBFC's registration. A pending amalgamation proposal did not satisfy the requirement because approval, implementation and any resulting capital increase remained contingent. Judicial review was confined to procedural legality, natural justice and jurisdictional error; no defect was identified in the cancellation or appellate process. The amalgamation proposal was rejected and that rejection was not separately challenged. As the company also could not meet the subsisting Net Owned Fund requirement, setting aside cancellation would have been futile. The High Court upheld cancellation and dismissed the writ petition.

CBLMS login credentials for Customs Brokers operating in Mangaluru Customs Commissionerate under Regulation 7(2) of the Customs Brokers Licensing Regulations, 2018, are sent to mobile numbers registered with ICEGATE. Brokers who have not received the credentials must submit their details in the prescribed Annexure-I format by email to the designated office at the earliest.

Regular promotions made through constituted selection processes against existing vacancies cannot be treated as ad hoc or interim where the applicable procedure permitted selection from lower grades, posts were interchangeable, and lien was recognised on higher posts. Seniority must therefore be computed from promotions to Instructor/Chargeman-C and Chargeman-B. Retrospective Rule 328(2) could not validly nullify those regular promotions or accrued service rights without a rational and legitimate objective. Its application against affected and similarly placed employees was arbitrary, requiring recognition of seniority based on the regular promotions.

CBLMS introduces online facilities for continuation of a proprietorship Customs Broker licence by an eligible major legal heir holding a G card, through a two-stage application process. Its offence module enables access to notices and orders, submission of replies, personal-hearing management, online penalty payment, notifications and case-history access. The portal also supports profile and address modifications, employee and other policy section details, electronic NOCs, issuance of downloadable official documents, notifications, user manuals and account lockout after repeated incorrect password attempts.

Sections 144C and 153 of the Income-tax Act operate together to govern completion of transfer-pricing assessments. Section 144C(13)'s non obstante clause requires prompt implementation of DRP directions but does not override the outer limitation period under Section 153. The final assessment order, not merely the draft assessment order, must be completed within the prescribed statutory period. A final order issued after that period is time-barred and void. Deferral of adjudication pending Supreme Court consideration of the issue is not warranted.

Interest disallowance relating to exempt-income investments was not warranted where reserves and surplus substantially exceeded the investments; administrative expenditure was restricted to 0.5% of average investment. Provision for unredeemed customer loyalty points represented an estimated redemption obligation accruing during the year and was treated as an allowable ascertained liability. Computer peripherals and accessories, including printers, routers, cables and switches, qualified for depreciation at 60%. Licensed computer software also qualified for depreciation at the rate applicable to computers and computer software. Consistent treatment under earlier assessments supported relief where no distinguishing material existed.

Rule 24 permits an ex parte appellate order to be set aside and the appeal restored when the appellant subsequently appears and establishes sufficient cause for non-appearance. Notices sent to a former employee's email address and to the address of a merged entity did not reach the assessee, which constituted sufficient cause. The ex parte order was therefore set aside and the appeal restored to its original number.

The Customs Area and custodianship status of the container freight station previously operating as M/s. APM Terminals India Private Limited continue under its changed name, M/s. Maersk Logistics & Services India Private Limited. The revised name must be used in Customs Department documentation. The existing Customs Area designation and custodianship for import and export cargo remain unchanged, and the custodian continues to bear responsibility for pending litigation, statutory obligations, tax disputes, show-cause notices, and arrears under its former name.

Forward coriander-sale contract losses were disallowed as non-genuine business losses because related-party arrangements lacked advances, settlement payments, delivery, broker or exchange involvement, and a verifiable money trail, with entries ultimately adjusted through journals. Applying burden of proof, surrounding circumstances, preponderance of probabilities and human-probability principles, the arrangements failed to establish commercial reality and were treated as colourable tax-avoidance devices. The speculative-loss question did not require substantive determination once the underlying transactions were rejected as sham; observations on speculative character and set-off restrictions were not an independent basis for the disallowance.

Foreign-exchange market conditions saw the rupee weaken against the US dollar in early trading, influenced by a stronger dollar and higher global crude oil prices. Foreign institutional equity inflows and increased foreign-exchange reserves moderated pressure on the rupee. Market attention remained focused on developments in West Asia and the Reserve Bank of India, alongside movements in the dollar index, crude oil prices and domestic equity markets.

Export facilitation for GI-tagged Mithila Makhana enabled the first commercial sea-route shipment from Bihar to Australia. APEDA, in association with the Bihar agriculture department, supported market access, coordination, capacity building and stakeholder engagement. The export model is intended to improve farmer price realisation, require adherence to global quality standards, and strengthen growers, processors and exporters. A separate HS Code for Makhana has taken effect under the Finance Bill, 2025, supporting product-specific trade classification.