The High Court examined whether the borrower was denied the mandatory 30-day period before auction under SARFAESI. Relying on the post-2016 legal position, it held that sufficient time was available and the sale was valid.
The Tribunal quashed excise duty demands after holding that inter-unit clearances were revenue neutral since any duty paid was fully creditable to sister units.
The Tribunal accepted the anti-profiteering report after the respondent agreed to pay ₹67.02 crore to eligible homebuyers. The ruling directs payment within three months along with applicable interest, closing the dispute through an undertaking.
The Tribunal held that allegations of profiteering were not substantiated after detailed verification of records and returns. It concluded that GST liabilities were duly discharged and the complaint was liable to be dropped.
The High Court held that a bank cannot unilaterally reduce the interest rate agreed in a fixed deposit during its tenure. Depositors cannot be penalised for internal errors of the bank.
The judgment reiterates that valuation must comply with statutory rules and cannot hinge on a single third-party transaction. Reassessment contrary to this principle was quashed.
The tribunal remanded the matter after the respondent admitted incorrect figures were submitted earlier, directing reinvestigation so that profiteering is recalculated on correct data.
The tribunal held that failure to reduce ticket prices after a GST rate cut amounted to profiteering and upheld recovery of the excess amount. The ruling clarifies that tax benefits must be passed on through commensurate price reduction.
The High Court held that a single notice covering several financial years violates Section 73 of the CGST Act. Each assessment year must be proceeded against independently within its own limitation period.
The issue concerned classification of a beverage processing aid containing Polysorbate 65. The Authority held that it met Chapter 34 criteria and classified it as a non-ionic organic surface-active agent.
