The Supreme Court declined to interfere with the revocation of a customs broker licence for misdeclaring consignor details in diplomatic cargo. The ruling confirms findings of regulatory violations that facilitated gold smuggling.
The Court held that the Department could not establish delivery of hearing notices or the order dispatched through speed post. The matter was remanded for fresh adjudication after providing documents and a proper hearing.
The Allahabad High Court ruled that parts replaced during warranty and AMC periods are taxable, applying the Supreme Court’s Tata Motors judgment. Tax liability arises even if no direct payment is charged to customers.
The Tribunal held that betel nuts could not be confiscated because the department failed to prove smuggling as required under Section 123. With no valid evidence beyond the ARDF report, both confiscation and penalties were set aside.
The Court held that pre-SCN consultation became discretionary after the 2020 amendment, rendering the petitioner’s challenge untenable. It directed the petitioner to pursue the statutory appeal.
The Gujarat High Court held that information seized from a third party without a direct nexus to the petitioners cannot sustain a Section 153C notice. The AO’s action was quashed.
The Court restored GST appeals before the Appellate Authority, requiring the petitioner to pre-deposit 25% of the disputed tax. The ruling emphasizes compliance with procedural pre-deposit requirements for appeals.
The RBI amended fortnightly CRR and monthly SLR reporting for rural co-operative banks, redefining the fortnight and updating Form B and Form I submissions.
The Reserve Bank of India issued the Urban Co-operative Banks – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) Amendment Directions, 2025, following the Banking Laws (Amendment) Act, 2025. Key amendments include redefining the “fortnight” as either the 1st–15th or 16th–last day of each month, revising reporting requirements for CRR and SLR in Form […]
RBI amends CRR and SLR reporting periods for Local Area Banks, introducing calendar-based fortnights and electronic submission of Form A and Form VIII returns.
