Case Law Details
Case Name : Sundaresh Bhatt, Liquidator of ABG Shipyard Vs Central Board of Indirect Taxes and Customs (Supreme Court)
Appeal Number : Civil Appeal No. 7667 of 2021
Date of Judgement/Order : 26/08/2022
Related Assessment Year :
Courts :
Supreme Court of India
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Sundaresh Bhatt, Liquidator of ABG Shipyard Vs Central Board of Indirect Taxes and Customs (Supreme Court)
Judgment dated 26th August, 2022 of the Hon’ble SC in the matter Sundaresh Bhatt, Liquidator of ABG Shipyard Vs. Central Board of Indirect Taxes and Customs [Civil Appeal No. 7667 of 2021].
The Hon’ble Supreme Court vide its order dated 26th August, 2022 held that the Insolvency and Bankruptcy Code, 2016 (the Code), would prevail over the Customs Act, and once moratorium is imposed in terms of sections 14 or 33(5) of the Code, the customs authority only has a limited jurisdiction to assess/determine the quantum of customs duty and other levies. The Hon’ble SC made some important findings and observations as under:
