Karnataka High Court held that flavoured milk should be classified under Tariff Heading 0402 of the Customs Tariff Act and hence be subjected to GST @5% [i.e. CGST 2.5% and SGST 2.5%]. Accordingly, the present writ is allowed.
The Court sustained rejection of disbursal despite earlier sanction, holding that incentives could not exceed prescribed caps. The ruling underscores that sanction alone does not guarantee payment if policy limits bar it.
The Supreme Court corrected errors in income and disability evaluation in a motor accident claim. It held that notional income under the Second Schedule was inappropriate and recalculated compensation on a realistic basis.
Specific performance was refused as readiness and willingness were not established on the due date. Applying equity after prolonged delay, the Court substituted enforcement with a ₹3 crore lump-sum.
The Tribunal found that CIT(A) erred by linking the protective addition to another company. The assessment was remanded for correct identification of the beneficiary.
The Court held that a lawful auction cannot be scrapped merely because the authority expects a better price later. Once the highest bid exceeds the reserve price and no illegality exists, cancellation is arbitrary.
The Court held that a later sworn admission by the employer conclusively proved employment and work-related death. The High Court erred by ignoring this and upsetting a valid factual finding.
The judgment clarifies that courts must first be satisfied about sufficient cause for delay before entertaining a belated cheque bounce complaint. Any reverse procedure violates Section 142 of the NI Act.
The draft Directions introduce stricter eligibility and capital-linked limits on dividend payouts by Local Area Banks. The key takeaway is that dividends are now closely tied to prudential strength and asset quality.
The 2026 framework links dividend payouts to capital strength, asset quality, and adjusted profits. It ensures dividends do not weaken financial stability or regulatory compliance.
