Moratorium-prohibition on transfer of corporate debtor's assets - Public announcement of CIRP-deemed knowledge of moratorium - Remedy for violation of moratorium Moratorium-post-CIRP transfer of corporate debtor's funds - Public announcement of CIRP-deemed knowledge of moratorium - Trust claim over funds held by corporate debtor - Remittance of funds transferred from the corporate debtor's account during the moratorium period, claimed to relate to pre-CIRP work and to be held in t... ... ...

Modification of judicially awarded interest in insolvency proceedings - Insolvency proceedings not a recovery forum for contractual default interest - Judicial discretion in award of interest Modification of interest awarded on the balance loan dues after repayment of the principal amount by substituting the contractual default rate for the judicially fixed rate - HELD THAT: - The earlier direction awarding interest formed part of a final adjudication rendered after considering the loan terms... ... ...

Minimum default threshold for corporate insolvency - Part repayment before admission of insolvency application - Maintainability of the financial creditors' application for initiation of corporate insolvency resolution process after repayments reduced the outstanding default below the statutory threshold - HELD THAT: - The admitted payments made before admission of the application left only the balance amount due, which was below the threshold of rupees one crore. The financial creditors oug... ... ...

Corporate applicant's insolvency application - bona fide invocation - Penalty for malicious insolvency application - proportionality Corporate applicant's insolvency application - bona fide invocation - Malicious intent to defeat secured recovery proceedings - Maintainability of the corporate applicant's application for initiation of insolvency resolution where it was filed after recovery action had commenced and hypothecated plant and machinery were found missing - HELD THAT: - P... ... ...

Transfer of winding-up proceedings for corporate revival - Irreversible stage of winding up - Transfer of the winding-up petition to the National Company Law Tribunal at the instance of a financial creditor, despite sales of certain assets outside the winding-up proceedings HELD THAT: - A financial creditor may seek transfer for revival within the time-bound rehabilitative framework of the IBC. Transfer is to be declined only where winding up has reached an irreversible stage; admission of th... ... ...

Undervaluation of imported heavy earth-moving machinery - Admissibility of unauthenticated electronic invoices - Corroboration of alleged extra remittances Rejection of the declared value of imported heavy earth-moving machinery on the basis of unsigned invoices, computer printouts and uncorroborated statements alleging undervaluation - HELD THAT: - Unsigned and unauthenticated invoices could not attract a presumption u/s 139. The computer-generated invoices were inadmissible, as the statutor... ... ...

Redemption fine and penalty on re-export of misdeclared imported goods - Quantum of redemption fine and penalty where imported goods declared as mixed metal scrap were treated as e-waste, re-exported, and not cleared for home consumption HELD THAT: - The finding that the goods were e-waste rested only on the Chartered Engineer's report, which was held not to be conclusive evidence for classification. As the goods had already been re-exported in compliance with the order and had not entere... ... ...

Provisional release of seized goods - non affording a personal hearing and without considering the pending request for re-test - non observance of natural justice - Audi Alteram Partem HELD THAT: - It is seen that in decision in Mohini Jewellers [2023 (8) TMI 755 - KERALA HIGH COURT] has held that the Act of adjudicating authority in deciding an application for provisional release is adjudicating procedure and not a ministerial act and therefore the adjudicating authority is bound to adhere t... ... ...

Penalty u/s 117 for unestablished customs contravention - Detention and demurrage waiver for customs-attributable delay Penalty for unestablished customs contravention - Judicial exercise of penalty discretion - Validity of penalty under the residual penalty provision in respect of re-export of a technical-grade mono ammonium phosphate consignment - HELD THAT: - Penalty under the residual provision is attracted only upon a finding of contravention of the Act, abetment of such contravention, o... ... ...

Interest on refund of redemption fine - Compensatory interest on revenue deposit - Entitlement to interest on redemption fine refunded after the confiscation - HELD THAT: - The amount paid for redemption of the goods, once the confiscation and redemption fine were set aside, was a revenue deposit and not a refund of duty governed by the statutory scheme for delayed duty refunds. The absence of a specific provision prescribing interest on refund of such deposit did not defeat the claim, since int... ... ...

Demand of differential customs duty - foreign customs declarations received through an overseas enquiry - Presumption as to overseas customs documents - Rejection and re-determination of transaction value for import undervaluation - Mandatory penalty for customs duty evasion Evidentiary value of declarations received from foreign Customs authorities and admissions made by the importer concerning undervaluation of imported kitchenware - Presumption as to overseas customs documents - Admissibil... ... ...

Recovery of drawback from non-recipient exporter - Confiscation of goods after export u/s 113 - Penalty for knowingly using false customs documents Recovery of drawback from non-recipient exporter - Recovery of claimed drawback and interest from the garment exporter whose goods were shipped under another entity's IEC - HELD THAT: - Drawback processing through ICES results in credit to the bank account of the IEC holder. As no shipping bill was filed in the exporter's name, no drawback... ... ...

Customs valuation of imported wall paper based on contemporaneous similar goods - Speaking order in customs assessment after remand Rejection of declared transaction value - Transaction value of contemporaneous similar goods - Enhancement of the declared customs value of imported wall paper on the basis of contemporaneous imports of similar goods - HELD THAT: - The declared transaction value could be rejected under Rule 12 where higher import values of identical goods recorded in the National... ... ...

Classification of natural rubber latex toy balloons - Specific functional tariff classification over residual material-based classification - Penalty for deliberate misclassification to evade customs duty Classification of imported natural rubber latex balloons as toy balloons under CTH 9503 OR as other inflatable articles of vulcanised rubber under CTH 4016 OR festive articles under CTH 9505 - HELD THAT: - The HSN Explanatory Notes are a safe and internationally accepted guide for tariff int... ... ...

Monetary threshold for departmental Customs appeals - Post-export amendment of shipping bills for MEIS claim Monetary threshold for departmental Customs appeals - Maintainability of the Departmental appeal against amendment of shipping bills where no Customs duty, interest, fine or penalty was involved and the disputed MEIS entitlement was below the prescribed monetary threshold. - HELD THAT: - The Board's monetary-limit instructions issued under the statutory scheme require regard to be had ... ... ...

Release of detained gold articles after expiry of notice period - Warehousing charges on release of detained goods Clarification of the release order concerning the weight of the detained gold articles, the scope for further departmental proceedings, and the period for which warehousing charges were payable - HELD THAT: - The Court corrected the collective weight of the gold bangle and gold chain in the release order. Having regard to its earlier determination that the period for issuance of ... ... ...

Advance licence obtained by misrepresentation or fraud is voidable until cancelled - validity of imports under an endorsed transferable advance licence where licensing authority has not cancelled or suspended the licence - authority and duty of licensing authority to suspend or cancel licences obtained by fraud - liability for customs duty where importer is transferee who imported under a valid advance licence - penalty under Section 112(a) of the Customs Act for acts or omissions rendering good... ... ...

Release of seized gold jewellery - Statutory time-limit for show-cause notice - Waiver of show cause notice and personal hearing - Show cause notice before confiscation of goods - Non- compliance with Section 124 HELD THAT:- Petitioner has fairly stated that in identical matter Special Leave Petition [2026 (6) TMI 77 - SC ORDER] has been dismissed by a coordinate Bench of this Court. In such view of the matter, the special leave petitions are dismissed.... ... ...

Suit seeking rights in property purchased by a father in the names of his minor sons - Retrospective operation of declaratory and procedural benami-law amendments - Guardian-ward fiduciary relationship in benami property transactions - Rejection of plaint barred by law Maintainability of a suit concerning property allegedly purchased by a father in the names of his minor sons, in the face of the statutory bar against benami claims - HELD THAT: - The declaratory provision defining and exceptin... ... ...

TP Adjustment - Resale Price Method for merchant trading transactions - Selection of tested party and functional comparability - Foreign associated enterprise as tested party - Functional comparability of merchant traders and manufacturers - Arm's length price adjustment on purchase of steel slabs and HRCF coils for high-sea merchant trading HELD THAT: - The associated enterprise was rightly selected as the tested party because the assessee's back-to-back high-sea sales, supported by ... ... ...