Detailed ruling by CAAR Delhi on the classification of Grindsted PS 101-M, a food emulsifier under CTSH 1516 20 91. Analysis includes composition and tariff notes.
It was argued on behalf of assessee that in the preceding AY, the margin of the assessee from the sale of recharge coupons was 1.75% (approx) and the same was accepted by the Department. Estimation of profit margin at 8% by AO is very much on higher side.
Writ petitions were filed challenging the minutes of meeting held on 08.11.2024, though which TRQ (Tariff Rate Quota) allotted to petitioners by the respondent for import of bullion. Petitioners are dealing in business of import of gold.
ITAT Jaipur examines Harish Jain’s appeal regarding additions on undisclosed income and retraction of statements during search operations. Detailed case analysis.
Madras High Court held that Local Committee on High Pitched Scrutiny Assessment are not required to grant an opportunity of being heard as there is no provisions laid down in the SOP. Accordingly, writ dismissed.
NCLAT Chennai held that fees is payable to Interim Resolution Professional (IRP) from the date he took charge of IRP till the date of appointment of new Resolution Professional. Accordingly, directed to pay additional fees from 53 days.
In the order above mentioned CESTAT allowed appeal of the assessee and held that that closure letter was already issued by the authority.
NCLT Kolkata held that a secured creditor having possession over the assets of the corporate debtor does not lose its rights to file an application under Section 7 of the Insolvency and Bankruptcy Code.
CESTAT Chennai held that duty demand due to non-fulfilment of export obligation justified as department empower to recover escaped duty when post importation conditions are not fulfilled. Accordingly, appeal dismissed.
CESTAT Allahabad held that amendment of bill of entry under section 149 of the Customs Act, 1962 for claiming benefit of duty exemption certificate received after clearance of goods allowed. Accordingly, appeal of revenue dismissed.
