DGFT allows import clearance without warehousing if authorisation is issued after shipment but before customs clearance, except for restricted or STE items.
IRDAI clarifies that foreign reinsurer branches and Lloyd’s India must maintain all collected records, including electronic, within India as per new regulations.
ROC Bangalore issued an adjudication order against PACE DIGITEK LIMITED and two officers for failing to appoint a company secretary as mandated by the Companies Act.
CESTAT Mumbai held that there is no provision/ stipulation that prohibits temporary retention of goods in non-bonded area while remedies were under way and, that too, with permission from customs authorities. Accordingly, redemption fine and penalties set aside.
ITAT Kolkata ruled a Section 263 revision invalid because the underlying Section 143(3) assessment was based on an improperly formatted Section 143(2) notice, violating CBDT instructions.
ITAT Kolkata quashed an assessment, finding the Section 143(2) notice invalid due to non-compliance with CBDT format instructions and issuance by an officer lacking pecuniary jurisdiction.
A company and its directors face penalties from the ROC for failing to appoint a whole-time company secretary, in violation of the Companies Act, 2013.
The Calcutta High Court ruled that a secured creditor under the SARFAESI Act holds priority over CGST dues, citing Section 26E of the SARFAESI Act and Supreme Court precedents.
Delhi High Court held that the used jewellery worn by the passenger would fall within the ambit of personal effects in terms of the Baggage Rules, 2016. Accordingly, the same would be exempt from detention by the Customs Department.
NCLAT Chennai held that delay of 26 days in filing of the report under Section 106 of the Insolvency and Bankruptcy Code, 2016, by the Resolution Professional condoned as reasonable cause of non-submission of the repayment plan and relevant information by the Guarantor shown.
