Case Laws - Income Tax

• 2025 (1) TMI 247
  Reopening of assessment - Period of limitation to issue notice issued u/s 148A(b) - scope of notices issued u/s 148 of the new regime between July and September 2022 - Application of TOLA to the Income Tax Act after 1 April 2021 - As decided by HC [ 2023 (2) TMI 1378 - GUJARAT HIGH COURT] allowed assessee appeal quashing and setting aside the notice issued u/s 148 alongwith the order u/s 148A(d) of the self-same date. HELD THAT:- The issue involved in these Special Leave Petitions are squarely covered by the Judgment of this Court rendered in Union of India Ors. vs. Rajeev Bansal [ 2024 (10) TMI 264 - SUPREME COURT (LB)] The petitions filed ....... + More

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• 2025 (1) TMI 246
  Excise duty refund and interest subsidy - full credit of challans deposited by the petitioner had not been given by the assessing officer due to wrong PAN number mentioned in the challans by the petitioner - petitioner has mentioned on the challans TAN number instead of PAN number - HELD THAT:- We are inclined to dispose of this petition by directing the Deputy Commissioner Income Tax, Circle-1, Jammu to ensure that the necessary correction in the challan as stated above is carried out with or without the approval of the Chief Commissioner Income Tax, Amritsar within a period of two weeks and the amount payable to the petitioner is released........ + More

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• 2025 (1) TMI 245
  Delay in filing the application u/a 119 (2) (b) - respondent no. 1 rejected the application seeking condonation of delay filed u/s 119 (2) (b) as it was beyond the period of six years from the end of the Assessment Year as stipulated in the CBDT Circular No. 09/2015 thereby holding that the same is not maintainable - HELD THAT:- We find the petitioner has been diligent enough in pursuing the claim for a refund. In fact, it is material to note that the payments made to the petitioner by the Government of UP were delayed on account of the dispute which had to be referred to arbitration. Pursuant to the arbitral award payments were made to the ....... + More

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• 2025 (1) TMI 244
  Stay and review application rejected - not providing a reasoned and speaking order while rejecting the applications - HELD THAT:- The respondent authorities has passed the assessment order dated 31.03.2024 passed u/s 143 (3) of the Income Tax Act 1961 along with copy of demand notice issued u/s 156 of the Income Tax Act 1961 against the petitioner. Thereafter the petitioner has filed an application under Section 220 (6) of the Income Tax Act, 1961 filed on 29.04.2024 before respondent No. 3. The respondent- No. 3 has not decided the case on the basis of prima facie case, balance of convenience, irreparable loss caused to the petitioner, Genu....... + More

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• 2025 (1) TMI 243
  Penalty u/s 271B - failure of the assessee to get accounts audited in respect of the previous year as required u/s 44AB but before specified due date i.e. due date for filing the return of income - HELD THAT:- Admittedly, the audit of Financial Year 2016-17 was completed in March 2019 obviously the audit of Financial Year 2017-18 cannot be done prior to that. We find force in the arguments of the assessee that under the above peculiar circumstances of the case the assessee was prevented by reasonable genuine cause for not getting the books of accounts completed audited in time. Therefore, we are of the considered opinion that the assessee wa....... + More

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• 2025 (1) TMI 242
  Revision u/s 263 - AO had added the Fair Market Value (FMV) of the property to the total income of the assessee u/s 56(2)(x) - PCIT observed that the AO should have added u/s 56(2)(x) and actual purchase consideration as unexplained investment u/s 69A - HELD THAT:- Assessee failed to explain the nature and source of investment with necessary supporting evidences. Action of the PCIT is in accordance with clear statutory provisions of the Act. Clause (x) of Section 56(2) expands the scope of income from other sources w.e.f. AY.2017-18 and subsequent year to provide that receipt of the sum of money or property by any person without consideratio....... + More

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• 2025 (1) TMI 241
  Validity of reopening of assessment u/s 147 - Whether the appellant was rightly assessed u/s 148/147 despite the existence of Section 153C, which pertains to assessments following search and seizure operations? HELD THAT:- As foremost substantive ground seeking to quash section 148/147 proceedings and find no merit therein. This is for the precise reasons that case law PCIT Vs Naveen Gupta [ 2024 (11) TMI 1071 - DELHI HIGH COURT] holds that even if section 153C contains a non-obstate clause, the same does not bar a learned assessing authority to invoke re-opening u/s 148/147 of the Act. This is also coupled with the fact that the assessee ha....... + More

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• 2025 (1) TMI 240
  Revision u/s 263 - Validity of assessment framed u/sec.153C - consolidated satisfaction note has been prepared for many assessment years - HELD THAT:- Since in the instant case a consolidated satisfaction note has been prepared for assessment years 2012-2013 to 2018-2019, therefore, the consolidation satisfaction note being not in accordance with law, therefore, the entire assessment proceedings is liable to be quashed. We hold accordingly and quash the assessment. There is also no dispute to the fact that two searches have taken place and there is only one satisfaction note i.e., a combined satisfaction note in the case of Yuvraj Dhamale Gr....... + More

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• 2025 (1) TMI 239
  Revision u/s 263 - Taxability of the investments in the hands of the trust u/s 56(2)(x) - assessment of trust - relatives inclusions in the beneficiaries - whether transactions involved in this case are out of the purview of section 56(2)(x) as the trust has been established exclusively for the family members covered in the definition of relative? HELD THAT:- Assessee has made only submissions with respect to the non-taxability of interest in partnership firm, the assessee has no where mentioned any thing about the receipt of preference shares and equity shares of M/s Silver Needle hospitality. The AO has also not conducted any query nor rai....... + More

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• 2025 (1) TMI 238
  Validity of reassessment proceedings initiated as time-barred under the amended provisions u/s 149(1) - HELD THAT:- The notices issued to the assessee in present case are barred by limitation under the new provision of Section 149(1) of the Act is not covered under TOLA. Accordingly, all the notices are quashed being barred by limitation.Appeal of the assessee is allowed.

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• 2025 (1) TMI 237
  Denial of Credit for Foreign Tax paid - Form No.67 was filed belatedly, i.e., beyond the due date for filing of the return of income - Directory v/s mandatory provision - HELD THAT:- Form No.67 was not filed within the due date for filing of the return of income under the provisions of section 139(1), but Form No.67 was filed on 22.03.2019. The CPC, Bangalore had processed the return of income as on 23.05.2020, which means that Form No.67 was very much available with the CPC, Bangalore. Therefore, the CPC, Bangalore cannot deny the claim for credit for foreign tax paid merely because Form No.67 was not filed within the due date specified for....... + More

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• 2025 (1) TMI 236
  Penalty u/s 271D - violation of Section 269SS - sale of ancestral agricultural property in cash - HELD THAT:- We find that the assessee along with others has sold an ancestral property (agricultural property). During the course of proceedings, the assessee explained his shares were received in cash. The assessee was under the honest and Bonafide belief that the agricultural property sold to his relatives who are agriculturists is not covered u/s 269SS - assessee was also under the honest and Bonafide belief that as the agricultural land is exempt u/s 2(14) of the Act, the sale proceeds received from the agricultural land is exempt and theref....... + More

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• 2025 (1) TMI 186
  Grant of registration u/s 12AA - charitable activity - as per CIT (E) that the activities of the trust is in the nature of trade, commerce or business and covered by proviso to Section 2 (15) - HELD THAT:- Principal Commissioner or the Commissioner has to satisfy himself about the objects of the trust or institution and the genuineness of its activities as required under sub-clause (i) of clause (a) and compliance of the requirements under sub-clause (ii) of the said clause, and has to pass an order in writing registering the trust or institution and a copy of the order so passed will be sent to the applicant. Reverting to the facts of the p....... + More

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• 2025 (1) TMI 185
  Stay application rejected - petitioner directed to deposit 20% of the demand - HELD THAT:- The respondent authorities has passed the assessment order dated 31.03.2024 passed u/s 143 (3) along with copy of demand notice issued under Section 156 against the petitioner. Thereafter the petitioner has filed an application u/s 220 (6) of the Income Tax Act, 1961 filed on 29.04.2024 before respondent No. 3. The respondent-No. 3 has not decided the case on the basis of prima facie case, balance of convenience, irreparable loss caused to the petitioner, Genuine hardship, CBDT instruction and hi-pitched assessment. The respondent No. 3 rejected the ap....... + More

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• 2025 (1) TMI 184
  Disallowance u/s 36(1)(iii) - interest free advances given by assessee - HELD THAT:- CIT(A) has given finding that the prudent business man will never give such interest free advances, the fact remains that these are for a purchase of material and it was for conducting the business of the assessee and therefore, the same cannot be stated as certain interest free loan / advances was not rightly disallowed by the AO u/s 36(1)(iii). In fact, the opening balance of these advances was submitted by the assessee in the details and therefore, the contention of the A.R. that such funds were not diverted towards interest free advances appears to be ju....... + More

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• 2025 (1) TMI 183
  Assessment u/s 153C - incriminating material which was seized had to pertain to the Assessment Years in question - mandation of recording of satisfaction - HELD THAT:- Satisfaction note recorded by the AO of the searched person u/s 153C of the Act when read along with the satisfaction note recorded by the AO of the appellant u/s 153C he two are similar in content. The narration of facts of search and seizure operation, details of documents allegedly pertaining to the assessee are mirror images except for the fact that in the satisfaction note recorded by the AO of searched person, the said AO uses the words that the allegedly the seized docu....... + More

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• 2025 (1) TMI 182
  Reopening of assessment u/s 147 - reason to believe or 'reason to suspect' - addition u/s 68 - HELD THAT:- AO solely relied on some unspecified and unintelligible information in the category of high risk transactions of unsecured loans. Allegations towards escapement without giving specific particulars of the lenders is apparently in the realm of bald allegations devoid of any specific details. To reiterate, the name of the lendor(s) who are alleged to be susceptible to section 68 of the Act do not feature in the reasons recorded at all. No definitive link is present. At the time of formation of belief, the AO is not shown to be in p....... + More

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• 2025 (1) TMI 181
  Validity of Reopening of assessment u/s 147 - Borrowed satisfaction - AR argued that the AO had mechanically recorded the reason for reopening the case and the AO had not verified the veracity of the information received from the Investigation Wing of the Income Tax Department - AR further contended that the reassessment proceedings were based on change of opinion - HELD THAT:- This case is squarely covered by the decision of ATS Infrastructure Ltd. [ 2024 (7) TMI 1441 - DELHI HIGH COURT] wherein the case of Manjinder Singh Kang [ 2012 (6) TMI 616 - PUNJAB AND HARYANA HIGH COURT] and N. Govind Raju [ 2015 (8) TMI 271 - KARNATAKA HIGH COURT] ....... + More

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• 2025 (1) TMI 180
  Denial of deduction u/s 10AA - inadvertent mistake in e-filing of return of income - technical error/glitch in the software used by the assessee for preparing.xml file format wherein inadvertently the deduction u/s 10AA could not be captured in appropriate column of the computation of income - fourth year of claiming of deduction. HELD THAT:- The assessee made his elaborate submissions before the Ld. Addl./JCIT(Appeals) with evidences stating that while e-filing the return there corrupt an error due to which the deduction claimed u/s 10AA was denied even though the assessee has duly furnished Form 56F in the prescribed Form by Chartered Acco....... + More

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• 2025 (1) TMI 179
  Addition u/s 69A - unexplained money - cash deposited by assessee in his bank account during the year - HELD THAT:- Assessee claims to have deposited Rs. 47,53,965/- from the various amounts kept by his wife as gifts received during the 11 years on account of marriage, marriage anniversary, celebrations on account of birthday of two children, cash received from uncle, sister, mother and brother. It is a fact that the appellant/assessee has failed to furnish the details of business activities carried by him. As per e-filing portal, assessee filed Income-tax Returns for the years 2010-11, 2011-12 2015-16 only. The bank statements show that ass....... + More

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• 2025 (1) TMI 178
  Unaccounted/unexplained income - Unexplained Cash Credit u/s 69A - assessee was selected for scrutiny under CASS for the reason that there was an abnormal increase in the cash deposits during the demonetization period - HELD THAT:- AO was of the view that the assessee had inflated cash sales even prior to the declaration of the demonetization and had introduced bogus sales and had deposited cash so generated in the books of account to account for his unaccounted money, which was otherwise lying outside the books of account. While arriving at this conclusion, the AO has heavily relied on preponderance of probability and, thus, has worked on t....... + More

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• 2025 (1) TMI 177
  TP Adjustment - determination of transfer price for supply of electricity from thermal unit to washeries division of the assessee during the year - reference u/s 92CA(1) - TPO applied an average of the rate published by CSEB (as adjusted by transmission and distribution cost but not adjusted for transmission and distribution losses) and the rate of trade as per IEX (without adjusting for any transmission / distribution loss or charges) and arrived at the rate of Rs 2.868 per unit to be the ALP - fair market value for the transfer rate of power or the selling rate of power in the industry by CSEB is Rs 4.05 per unit - HELD THAT:- Whether the ....... + More

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• 2025 (1) TMI 176
  Validity of reopening of assessment as barred by limitation - period of six years expired - HELD THAT:- The notice u/s.148 issued on 27/07/2022 is clearly barred by limitation. The reason being the test for checking the time limit and the validity of notices issued u/s.148 under new regime applicable from A.Y. 2021-22 and prior regime is, whether period of six years had expired at the time of issue of such notice or not. In the case of assessee, the period of six years had expired on 31/03/2022 and consequently, the notice dated 27/07/2022 is clearly barred by limitation and on this ground, the assessment proceedings u/s.147 is hereby quashed.

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• 2025 (1) TMI 175
  Assessment u/s 153A - Invalid approval granted u/s 153D - as argued approval granted by the superior authority u/s 153D is non-est approval being a mechanical and a perfunctory approval and suffers from the vice of non-application of mind - HELD THAT:- On a perusal of the approval addressed by the Ld. Addl. CIT to the AO, it emerges that the Ld. Addl.CIT has not uttered a word on the subject matter of additions. The approval is in the nature of Performa approval; the approval granted smacks of mechanical or perfunctory approval in a symbolic exercise of powers vested u/s 153D of the Act. Approval memo is totally silent on the issues involved....... + More

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• 2025 (1) TMI 174
  Income deemed to accrue or arise in India - taxability of administrative support service charges as fees for technical services (FTS) in terms of Article 13 of Double Taxation Avoidance Agreement (DTAA) between India United Kingdom (UK) - HELD THAT:- As decided in assessee s own case in A.Y. 2012- 13. [ 2023 (3) TMI 1485 - ITAT MUMBAI] the services provided by the group entities or holding company to its subsidiaries as support services to run their business effectively will not be considered as FTS or FIS under the treaty and these services does not amount to make available technical or skill or expertise while providing these services. Thu....... + More

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Case Laws - GST

• 2025 (1) TMI 257
  Revocation of cancellation of their GST registration - final order of cancellation fails to record or assign any reason in support of the allegations which stood leveled in the SCN and which preceded the passing of that order - Violation of principles of natural justice - HELD THAT:- As is manifest from a reading of the SCN of 26 December 2023, the respondents had failed to indicate any intent to cancel the registration from a retrospective date. The final order of cancellation fails to record or assign any reason in support of the allegations which stood leveled in the SCN and which preceded the passing of that order. In view of the aforesa....... + More

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• 2025 (1) TMI 256
  Suspension of GST registration of petiitoner - non-consideration of reply - Violation of principles of natural jusice - HELD THAT:- Admittedly, the petitioner is a registered dealer under the provisions of GST. The respondent has initiated an enquiry into certain alleged irregularities committed by the petitioner. The petitioner has replied to the said show cause notice. Under the said circumstances, it would be appropriate for the respondent to consider the reply of the petitioner and thereafter pass suitable orders in accordance with law and the act of respondent in suspending the GST registration of the petitioner pending enquiry would be....... + More

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• 2025 (1) TMI 255
  Challenge to order which has come to be passed and in terms of which a SCN dated 30 May 2024 pertaining to the tax period April 2019 to March 2020 has come to be finalized - HELD THAT:- While dealing with an identically worded order passed by the said officer, in XEROX INDIA LIMITED VERSUS ASSISTANT COMMISSIONER, WARD 208 (ZONE -11) DGST AND ANR [ 2024 (12) TMI 1283 - DELHI HIGH COURT] it was held that ' The Assistant Commissioner has clearly adopted a template where the only reason assigned is that the reply filed was not comprehensible, conceivable, not perspicuous and is ambiguous . This clearly exhibits an abject non-application of m....... + More

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• 2025 (1) TMI 254
  Cancellation of registration of the petitioner - non filing of the GST return for a continuous period of six months - petitioner is ready to make the payment towards GST returns for a period of six months - HELD THAT:- In view of the consensus between the parties, the matter is covered by the order passed in Kiran Enterprises GSTIN Versus Commissioner, State Goods Another [ 2024 (10) TMI 1306 - UTTARAKHAND HIGH COURT] ], the present writ petition is also decided in terms of the said order. Petition disposed off.

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• 2025 (1) TMI 253
  Challenge to order passed in exercise of powers conferred by Section 73 (9) of the Central Goods and Services Tax Act, 2017 - HELD THAT:- While there is some contestation with respect to the participation of the petitioner in the hearings that ensued and on the different dates which were fixed by the Assistant Commissioner, for the purposes of the present writ petition, we find it unnecessary to delve into those aspects since, and in our considered opinion, the Assistant Commissioner has clearly taken an extremely narrow and pedantic view while refusing to accede to the prayer for adjournment. The authority has failed to assign any reason in....... + More

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• 2025 (1) TMI 252
  Maintainability of petition - availability of alternative remedy - challenge to adjudication order passed under Section 73 (9) of the M.G.S.T. Act, 2017, the C.G.S.T. Act, 2017 read with Section 20 of the I.G.S.T. Act, 2017 and the allied enactments - HELD THAT:- It is afraiding, in the wake of the fact that an efficacious remedy of statutory appeal is available to the petitioner, accepting for the sake of arguments that his request seeking time to respond to the show cause notice was not considered favourably, there are no reason to make exception and exercise the power under Article 226 of the Constitution. The appellate authority would be....... + More

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• 2025 (1) TMI 251
  Blocking the Electronic Credit Ledger (ECL) of the petitioner under Rule 86A of the Central Goods and Services Tax Rules, 2017 (CGST Rules) - absence of a pre-decisional hearing - HELD THAT:- The issue answered in favour of the petitioner- assessee in K-9-Enterprises s case [ 2024 (10) TMI 491 - KARNATAKA HIGH COURT ] where it was held that ' in the absence of valid nor sufficient material which constituted reasons to believe which was available with respondents, the mandatory requirements/pre- requisites/ingredients/parameters contained in Rule 86A had not been fulfilled/satisfied by the respondents- revenue who were clearly not entitle....... + More

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• 2025 (1) TMI 250
  Short payment of Goods and Services Tax - adjudication of challenge to appellate order - HELD THAT:- The first Division Bench in M/S. MAA TARINI TRADERS, M/S. SURA CONSTRUCTION, M/S. SMT. AMULU PATRO, M/S. THE NATIONAL SMALL INDUSTRIES CORPORATION LIMITED, ASHISH MOHANTY, M/S. V.S.T. TILLERS TRACTORS LIMITED, NIRANJAN PRADHAN VERSUS STATE OF ODISHA OTHERS, JOINT COMMISSIONER OF STATE TAX, ANOTHER, CHIEF COMMISSIONER OF C.T. G.S.T., ODISHA, CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS (CBIC) , DEPARTMENT OF REVENUE, MINISTRY OF FINANCE OTHERS, C.T. G.S.T. OFFICER, CUTTACK-I [ 2024 (2) TMI 1421 - ORISSA HIGH COURT] directed a quantum of deposit....... + More

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• 2025 (1) TMI 249
  Jurisdiction to invoke section 74(5) of the Central Goods and Service Tax Act, 2017 - suppression on the part of the petitioner with regard to invoices raised upon National Highway Authority of India or not - HELD THAT:- It was pointed out from the impugned show-cause notice by the learned advocate for the petitioner that no details are given with regard to alleged suppression of the facts by the petitioner. The petitioner has made out a very good prima facie case for granting interim relief during the pendency of this petition. Therefore, the respondents may proceed with the hearing of the show-cause notice but no final order shall be passe....... + More

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• 2025 (1) TMI 248
  Declination to grant any interim order and direction has been issued to file the affidavits - cancellation of appellant s registration under the GST Act on the ground that the appellant was not carrying on business in the place mentioned in the registration certificate - HELD THAT:- Admittedly, the appellant did not comply with the procedure as stated in section 28(1) of the WBGST Act, 2017 as well as Rule 19(1) of the WBGST Rules 2017. Considering the fact that the registration of the appellant was granted several years back, this Court is of the view that one more opportunity can be granted to the appellant to go before the original author....... + More

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• 2025 (1) TMI 215
  Failure to adhere to the time lines - Whether the proceedings under Section 129(3) can be sustained in the absence of complying with the time line mandated under Section 129(3)? - HELD THAT:- Petitioner has relied upon the judgment of this Court in TVL. UDHAYAN STEELS PRIVATE LIMITED, REP. BY ITS DIRECTOR SELVAN VERSUS DEPUTY STATE TAX OFFICER (INT.) ROVING SQUAD, COIMBATORE, THE ASSISTANT COMMISSIONER (ST) , ADJUDICATION, COIMBATORE [ 2023 (1) TMI 378 - MADRAS HIGH COURT] wherein this Court held that ' The impugned proceedings are set aside and the vehicles/goods in question shall be released forthwith.' This Court is of the view th....... + More

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• 2025 (1) TMI 214
  Levy of penalty under Section 129(1)A of the CGST Act - penalty based on the interception of goods, which were found to be unloaded at an unauthorized location without proper documentation - It is the case of the petitioner that on 04.11.2024 while filing the reply they had sought for a personal hearing, however, no personal hearing was granted - violation of principles of natural justice - HELD THAT:- The petitioner would appear for personal hearing at 18.12.2024 at 11.00 a.m. Orders would be passed afresh after considering the submission of the petitioner. It is submitted by the learned counsel for the petitioner that the goods may be prov....... + More

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• 2025 (1) TMI 213
  Vioaltion of principles of natural justice - neither the show cause notices nor the impugned order of assessment has been served on the petitioner by tender or sending it by RPAD - petitioner is ready and willing to pay 25% of the disputed tax - HELD THAT:- The petitioner shall deposit 25% of the disputed tax within a period of two weeks from the date of receipt of a copy of this order. The impugned order of assessment shall be treated as show cause notice and the petitioner shall submit its objections within a period of four weeks from the date of receipt of a copy of this order along with supporting documents/material. Petition disposed off.

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• 2025 (1) TMI 212
  Constitutional validity of provisions of Rule 96 (10) of the CGST Rules, 2017 - Submissions also made that the Central Government itself though prospectively by notification dated 08.10.2024 has amended Rule 86 (4B) (b) wherein the provision 'in contravention of sub-rule (10) of Rule 96' has been omitted. HELD THAT:- Issue notice.

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• 2025 (1) TMI 211
  Challenge to order u/s 107 of the Central Goods and Services Tax Act, 2017 - appeal to GST Tribunal under Section 112 of the Central Goods and Services Tax Act, 2017 - HELD THAT:- Since, the order has been passed by the 1st respondent as an Appellate Authority under Section 107 of the Central Goods and Services Tax Act, 2017, an appeal lies before the GST Tribunal under Section 112 of the Central Goods and Services Tax Act, 2017. However, the Tribunal is yet to be constituted, although it has been notified. The reading of the impugned order indicates that it is based on the Circular No.135/05-2020-GST dated 31.03.2020. While dealing with an ....... + More

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• 2025 (1) TMI 210
  Territorial jurisdiction - impugned order challenged on the premise that the impugned order levies tax on supplies outside the State of Tamil Nadu, thereby suffers from want of jurisdiction - demand in excess of the amount of taxes proposed in the SCN - Violation of mandate contained in Section 75 (7) of the Act - violation of principles of natural justice - HELD THAT:- In view of the submissions/ consent of the counsel appearing on behalf of the petitioner and the Respondents, the impugned order is set aside and the petitioner shall remit a sum of Rs.1 crore within a period of two weeks from the date of receipt of a copy of this order. Subj....... + More

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• 2025 (1) TMI 209
  Challenge to order u/s 73 in Odisha Goods and Services Tax Act, 2017 - HELD THAT:- Section 61, by sub-section (2) requires consideration of explanation furnished. Sub-section (3) says, in case no satisfactory explanation is furnished, the proper officer may initiate appropriate action under, inter alia, section 73. Initiation of the proceeding under section 73 was clearly without jurisdiction. Impugned order is set aside and quashed. Petitioner s said reply dated 29th July, 2021 is to be dealt with under section 61 and thereafter revenue can proceed. Petition disposed off.

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• 2025 (1) TMI 208
  Entitlement to Input Tax Credit (ITC) - extension of time for filing return till 30th November, 2021 - HELD THAT:- Petitioner has moved Court invoking writ jurisdiction on not having filed appeal. In the circumstances, circular dated 15th October, 2024 issued by Central Board of Indirect Taxes and Customs, GST policy wing requiring petitioner to apply for rectification is to be complied with. This observation is on noticing that the circular was issued after the writ petition was presented. Considering departmental procedure is now in place for petitioner to comply with in having impugned order rectified and time for making the application i....... + More

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• 2025 (1) TMI 207
  Challenge to proceedings under Section 129 of GST Act - Seizure of goods - E-Way Bill not filled - intent to evade tax or not - HELD THAT:- The facts which are admitted and disclosed from the records are these. There was no discrepancy in the goods which were physically found at the time of inspection and details of goods recorded in the E-Way Bill available with the driver of the vehicle. The authorities below have not found any intent to evade tax. This Court has set its face against initiation of proceedings under Section 129 of GST Act in the wake of mere technical breaches. When substantial compliance of the provisions is disclosed and ....... + More

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• 2025 (1) TMI 206
  Invocation of extraordinary jurisdiction of this Court under Article 226 of the Constitution challenging the impugned notice, primarily, on the ground that any decision taken pursuant to the impugned notice would be violative of principles of natural justice - HELD THAT:- It is found that the expected response from the Petitioner is already reflected at S. No. 9 of Part-B of the impugned notice. That apart, the Petitioner also claims to have filed a detailed representation explaining its position. The ends of justice would be served by disposing of this Petition by directing the concerned tax authority to take a final decision in the matter,....... + More

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Case Laws - Customs

• 2025 (1) TMI 235
  Mis-declaration of imported goods - whether the appellant CHA was a party to the entire illegal exercise done by the other three co-noticees? - HELD THAT:- In the absence of any evidence brought on record by the Adjudicating Authority, the Tribunal ought not to have confirmed the order passed by the Adjudicating Authority. The Tribunal has not independently assessed the factual position. As pointed out earlier, even in the show cause notice, there was no substantial allegation against the appellant that he connived with the other three persons to mis-declare the goods. Therefore, the finding rendered by the Tribunal to be perverse qua the fa....... + More

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• 2025 (1) TMI 234
  Error in not considering that, in the entire show cause notice John Miranda and Rakesh Magoo or the importer have never given any statement alleging that the petitioner was aware of the alleged mis-declaration of value - Department proceeded on the basis of assumption, presumption and surmise in the matter without any evidence or not - failure to consider that the petitioner after obtaining the authorization from the importer viz. M/s. Surya Trading Co., Delhi in course of ordinary business filed the bill of entry on the basis of the invoice, packing list, bill of lading, import-export code number etc. provided by the importer - HELD THAT:- ....... + More

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• 2025 (1) TMI 233
  Fulfilment of export obligation under the EPCG License within the time extended by the Directorate General of Foreign Trade (DGFT) - jurisdiction to question the discharge certificate issued by the DGFT - confiscation - penalties - extended period of limitation. HELD THAT:- The appellant had initially fulfilled the export obligation after including the exports made through Sundram Export and DGFT by a letter dated 10.05.1999 confirmed that the appellant had fulfilled the export obligation. After the appellant came to know that the export of CD-ROMs made by Sundram Exports was being disputed by the Directorate of Revenue Intelligence, the app....... + More

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• 2025 (1) TMI 232
  Violation of conditions of the exemption Notification No. 146/94-Cus by National Rifle Association of India (appellant) - sale of imported arms and ammunition to State Rifle Associations and District Clubs instead of using them directly for national or international competitions - confiscation - interest - penalty. Violation of conditions of the exemption Notification No. 146/94-Cus by National Rifle Association of India (appellant) - HELD THAT:- A plain reading of the notification nowhere shows that there is any 'Actual User' condition. All that is stated is that the goods should be used for national or international championships o....... + More

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• 2025 (1) TMI 231
  Redemption fine and penalty - compliance with the Legal Metrology (Packaged Commodities) Rules, 2011 - Applicability of Sections 111(d) and 112(a) of the Customs Act, 1962 - HELD THAT:- The appellant has not complied with the labelling requirements of the Legal metrology (Packaged Commodities) Rules, 2011. There was a failure on the part of the appellant in not producing the Registration Certificate from the Legal Metrology Department when the imported goods landed. Thus, appellant contravened the provisions of Foreign Trade Policy 2009--2014. This contravention automatically entails the confiscability of the goods under Section 111 (d) of t....... + More

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• 2025 (1) TMI 158
  Challenge to seizure proceedings initiated by the appellants - proper officer for the purpose of Section 28 (4) of the Customs Act, 1962 for initiating proceedings and issuing a show cause notice to recovery duty - whether the proceedings initiated by the authorities of the Appellants was justified or not? - HELD THAT:- The Supreme Court, in Commissioner of Customs [ 2021 (3) TMI 384 - SUPREME COURT ], has observed ' DRI officers came to be appointed as the officers of customs vide Notification No. 19/90-Cus (N.T.) dated 26.04.1990 issued by the Department of Revenue, Ministry of Finance, Government of India. This notification later came....... + More

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• 2025 (1) TMI 157
  Levy of penalty u/s 112(a) of CA, on appellant, a Customs House Agent (CHA) - whether there was abetment of the appellant in the misdeclaration of the imported goods? - HELD THAT:- It is on record that the statement of Shri Gyan Prakash Nirmal, Vice President of the importer has never implicated the appellant in the act of alleged misdeclaration of the imported goods. The impugned order vide para 81 categorically places the responsibility of the misdeclaration of the impugned goods on the importer, and specifically on Mr Gyan Prakash Nirmal, based on the investigations evidences available with the Department. There is not even a whisper of a....... + More

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• 2025 (1) TMI 156
  Classification of imported goods - health supplements - Food supplements - classifiable under CTH 2106 9099 are liable to IGST @28% under Sr. No. 9 of Schedule IV of Notification No. 1/2017- IGST rate or at 18% under serial No. 453 of Schedule III of the said notification? - demand for differential IGST is barred by limitation or otherwise. Classification of health supplements - HELD THAT:- The issue in the present case is no longer res-integra as the same has been considered by this Tribunal in the case of Neuvera Wellness Venture Pvt Ltd [ 2023 (10) TMI 964 - CESTAT AHMEDABAD ] wherein by the detailed finding, this Tribunal has considered ....... + More

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• 2025 (1) TMI 88
  Revocation of customs broker license - forefeiture of security deposit - levy of penalty - submission of forged graduation degree, at the time of applying for grant of the license, had submitted a forged graduation degree. Raj Kumar was, accordingly, asked to submit attested copy of the graduation degree and Raj Kumar did submit a self-attested copy of the graduation degree. Forged degree or not - HELD THAT:- On a complaint received by the department, a query was made by the department from the Chaudhary Charan Singh University, Meerut regarding the genuineness of the graduate degree which the appellant had submitted to the department at the....... + More

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• 2025 (1) TMI 87
  Interest on delayed refund of the Anti-Dumping Duty (ADD) deposited during the investigation - determination of interest on delayed refund as per Section 27 and 27A of the Customs Act, 1962 - time limitation - principles of unjust enrichment - HELD THAT:- It is settled position in law that interest on any amount deposited arises on two accounts either as contractual liability or as statutory liability (prescribed by the statute). Appellant has not shown anything by which it can be shown that the interest being claimed by them is in terms of any contract entered between them and the DRI or the Customs Department. The interest being claimed ha....... + More

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• 2025 (1) TMI 86
  Denial of request for amendment of the Bill of Entry under Section 149 of the Customs Act, 1962 - benefit of exemption in terms of Doctrine of Substantial Compliance - HELD THAT:- The respondent have undisputedly made an application for getting the duty exemption certificate to the concern ministry well in advance from the date of importation, it was only for the reason of non-receipt of the duty exemption certificate and to avoid any further demurrage charges, they cleared the goods on the basis of self assessment for payment of duty. The respondent had taken all the necessary steps to obtain the said certificate well in advance which was b....... + More

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• 2025 (1) TMI 85
  Mis-declaration of imported goods - enhancement of value - Chartered Engineer without making any inquiry, adopted the domestic market value of the imported goods - HELD THAT:- The present case arises out of examination and seizure of the imported goods pertaining to 18 import consignments. We find that M/s Skyblue International Trading Company have imported total 5 import consignment which were examined by the officers of DRI and during examination of the goods mis-declaration were observed in respect of value, quantity and other material particulars. The Ld. Commissioner in impugned order held that the declared value in respect to the conta....... + More

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• 2025 (1) TMI 84
  100% EOU - request for conversion of shipping bills from EOU to DEPB and drawback scheme - rejection of request for conversion on the ground that when the export has taken place under shipping bill mentioning EOU, the final de-bonding was not completed, the final de-bonding was completed only on 21.01.2010 - Applicability of Section 149 of the Customs Act, 1962 - Learned Commissioner while rejecting request for conversion neither issued any show cause notice nor granted any personal hearing - violation of principles of natural justice. Violation of principles of natural justice - HELD THAT:- The decision taken for rejecting the conversion fr....... + More

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• 2025 (1) TMI 83
  Condonation of delay in filing of appeal - time limitation - HELD THAT:- Undisputedly, the normal period of limitation for filing appeal before Commissioner (Appeals) was till 24.02.2020 and appellant have filed the appeal alongwith the application for condoning of delay beyond the normal period as prescribed in law. Commissioner (Appeals) after examining the grounds stated in the condonation of delay application he could have condoned the delay of only 30 days. As per the decision by Hon ble Supreme Court in IN RE : COGNIZANCE FOR EXTENSION OF LIMITATION [ 2020 (5) TMI 418 - SC ORDER] , after taking note of pandemic condition prevailing in ....... + More

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• 2025 (1) TMI 24
  Refusal to extend certain benefits claimed by it under the Merchandise Exports from India Scheme (MEIS) on goods exported - car seat covers manufactured by the petitioner fall under the Harmonized System (HS) Code 87089900 or not - HELD THAT:- In Mehra Brothers V. Joint Commercial Officer [ 1990 (11) TMI 144 - SUPREME COURT ], the Apex Court considered the question as to whether car seat covers are accessories to motor vehicles. After referring to the dictionary meaning of the term accessory , the Apex Court found that car seat covers or upholstery is accessories as an addition; an adjunct; an accompaniment for comfortable use of the motor v....... + More

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• 2025 (1) TMI 23
  Refusal to the release of five consignments - consignments allegedly constituted firearms - HELD THAT:- In the opinion of the Court, the Petitioner is entitled to relief sought in the present writ petition. The relief sought in prayer, regarding the release of consignments stands granted through order dated 30th September, 2024, with certain conditions. However, since the Petitioner is entitled to succeed, the superdarinama is cancelled and the conditions imposed by the Court stand revoked. The Petitioner shall be entitled to deal with the said goods under the consignments, in accordance with law - The claim for compensation for demurrage is....... + More

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• 2025 (1) TMI 22
  Seeking issuance of a writ of mandamus directing the Respondent- Commissioner of Customs to re-export gold seized from the Petitioner s mother - Petitioner, as the legal heir of the deceased passenger, is entitled to redeem the confiscated goods, or not - applicability of limitation period for redeeming the goods under Section 125 of the Customs Act when the order was not duly communicated to the deceased passenger. Petitioner, as the legal heir of the deceased passenger, is entitled to redeem the confiscated goods under the Customs Act, 1962 or not - HELD THAT:- The passenger was a senior citizen of more than 70 years of age. The death cert....... + More

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• 2025 (1) TMI 21
  Non-compliance of provisions of mandatory pre-deposit Section 129(E) of Customs Act - Imposition of penalty on the petitioner under various provisions of the Customs Act, 1962 - HELD THAT:- The petitioner has exhausted its remedies against it grievance of its appeals not being entertained on the ground of not making the pre-deposit. The petitioner has also agitated his grievance in this regard before the Hon ble Allahabad High Court, albeit unsuccessfully. The petitioner is seeking to reagitate the issues before this Court. This is clearly a case of forum shopping and cannot be countenanced. Petition dismissed.

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• 2025 (1) TMI 20
  Abatement of appeals due to approval of Resolution Plan under IBC - request for adjournment due to the absence of counsel - HELD THAT:- On going through the Order of the Coordinate Bench M/S. TATA STEEL LIMITED ( [FORMERLY M/S. TATA STEEL BSL LTD) VERSUS COMMISSIONER OF CENTRAL EXCISE, CUSTOMS AND SERVICE TAX, BHUBANESWAR [ 2024 (4) TMI 1211 - CESTAT KOLKATA] , it is found that the Bench had recorded that the appellant company underwent CIRP in terms of IBC, which culminated into approval of Resolution Plan of Bhushan Steel Ltd by the Adjudicating Authority at NCLT, Principal Bench at New Delhi. They have also considered the relevant clauses....... + More

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• 2024 (12) TMI 1476
  Validity of SCN issued to the deceased respondent - penalties on the deceased respondent - proper officers under Section 28 of the Customs Act - HELD THAT:- Liberty granted to the respondents - the LR s of the deceased respondent to file an appeal before the CESTAT under Section 129-A(1) of the Customs Act within two weeks from the date of receipt of copy of this order. On such filing, the CESTAT shall decide the appeal to the extent of the grounds urged, and not considered by the authorities below in accordance with law. Appeal disposed off.

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Case Laws - Corporate

• 2025 (1) TMI 230
  Jurisdiction of High Court to transfer the Company Petition to the National Company Law Tribunal (NCLT) for initiating the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC) 2016 - winding-up proceedings makes it appropriate or feasible to transfer the case to the NCLT or not - HELD THAT:- This Court passed the winding up order on 21.09.2015 and the Liquidator was appointed. Since, nothing substantial could be achieved towards liquidation of the available assets of debtor company, this Court on the suggestions of stake holders ordered a meeting of Department of State Excise, official Liquidator and ....... + More

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• 2025 (1) TMI 155
  Rejection of application of the appellant for the listing of shares - appellant had not taken the approval of the shareholders for the allotment of the shares to the Asset Reconstruction Private Limited - HELD THAT:- The conversion of the debt into additional shares had taken place with the agreement of the appellant company and RARE, and it is on the basis of such an agreement between the parties that a resolution was passed on 02.05.2018 by the Board of Directors of the appellant company accepting the proposal to convert the debt into shares and to allot them in favor of RARE, thus, resulting in increase of the equity capital of the appell....... + More

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• 2025 (1) TMI 154
  Dismissal of petition filed by the appellants under Section 241 of the Companies Act, 2013 - dismissal on the ground it does not meet the criteria as is provided for in Section 244 of the Companies Act, 2013 - HELD THAT:- A bare perusal of the impugned order would show the Ld. NCLT had observed Section 244 of the Companies Act, 2013 requires the following conditions for filing an application/petition under Section 241 of the Companies Act viz. a) in case of a company having share capital, not less than 100 members of the company; or b) not less than 1/10 of the total number of its members whichever is less; or c) Any member of members holdin....... + More

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• 2025 (1) TMI 19
  Professional misconduct under Section 132(4) of the Companies Act, 2013 - Penalties and sanctions - HELD THAT:- There exists reasons to believe that the Auditors did not exercise due diligence in ensuring the audit quality expected in an audit of a public interest entity and were grossly negligent in the conduct of the professional duties by not adhering to the requirements as laid down by the relevant statutes. The Auditors' conclusion that they do not have reasons to believe that fraud is committed by the officers of the Company is not supported by sufficient appropriate audit evidence. The Auditors also failed to identify the persons ....... + More

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• 2025 (1) TMI 18
  Professional misconduct - Engagement Partner (EP) and Engagement Quality Control Reviewer (EQCR) failed to meet the requirements of the Standards on Auditing (SA) and provisions of the Companies Act 2013 during the audit of DB Realty Limited for the Financial Year 2015-16 - Section 132(4) of the Companies Act 2013 - Penalties and sanctions. HELD THAT:- The EP and the EQCR have made a series of serious departures from the Standards and the Law, in conduct of the audit of DBRL for FY 2015-16. Based on the above discussion, it is proved that they had failed to exercise due diligence in performance of this audit. Based on the foregoing discussio....... + More

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• 2024 (12) TMI 1466
  Oppression and mismanagement - allowing the Annual General Meeting (AGM) to proceed, keeping the outcome of Agenda No.1 in abeyance - appealable order under Section 421 of the Companies Act, 2013 or not - HELD THAT:- Looking at the nature of the order, which has been subjected to challenge by invoking Section 421 of the Companies Act, 2013, it takes the shape of an Interlocutory Order, where the right of the Appellant in the context of provisions contained under Section 134 of the Companies Act, 2013, which though being procedural in nature and it s not being a substantive provision, has been left open to be considered and thus the Impugned ....... + More

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• 2024 (12) TMI 1317
  Entitlement to 1/3rd of all the family assets and properties including business, assets and property - Challenge to an order whereby, while deciding an application of the defendant/respondent no. 25 under Order VII Rule 11 of the Code of Civil Procedure, the learned Trial Judge treated the same to be one under Order VII Rule 10 of the Code and directed return of the plaint to be presented before the appropriate forum - Principles of res judicata - Partial rejection/return of plaint - Jurisdiction of the NCLT - Concept of quasi-partnership - Applicability of the Benami Transactions Act. Principles of res judicata - HELD THAT:- It is well-sett....... + More

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• 2024 (12) TMI 1249
  Dismissal of company petition filed by the appellant on grounds of maintainability and delay - maintainability of petition filed by the appellant as per Section 244(b) of the Companies Act, 2013 - HELD THAT:- The appellant has not filed any record of the company wherein he was shown to be a member of the Respondent No.1 between 2012-2013 till the date he had filed Company Petition in the year 2023. Rather if one peruses the additional affidavit filed by the Respondent herein before the Ld. NCLT one would find at the time of the filing of the Company Petition there were 97 members of the Company, the list of which stood uploaded on the websit....... + More

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• 2024 (12) TMI 1205
  Constitutionality of Section 3 of the Judges (Protection) Act, 1985 - failure to pay debt - default on the part of a Corporate Debtor - forum shopping - suppression - multipicity of cases - wastage of time of the court - making unfair statements - prayer to restrain and prohibit the two learned members of the NCLT-1, Mumbai from functioning and exercising jurisdiction. HELD THAT:- The view taken by the Hon ble Supreme Court in Swiss Ribbons Pvt. Ltd. and Anr. V/s. Union of India and Ors. [ 2019 (1) TMI 1508 - SUPREME COURT ] is now crystallized that even the non-payment of a part of the debt, when it becomes due and payable, will amount to d....... + More

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• 2024 (12) TMI 1204
  Maintainability of suit - Seeking a decree of possession and permanent injunction mesne profit in its favour and against the Defendants - consequence of the Plaintiff Company's struck-off status on its capacity to initiate legal proceedings - HELD THAT:- The present suit has been filed for seeking recovery of possession of the suit property from the Defendants on basis of the sale deed dated 30.10.1987 and sale deed dated 25.08.2011. However, the District Court on 15.09.2022 has granted a permanent injunction against the Plaintiff Company from relying upon the said documents and from interfering in the peaceful possession of the Defendan....... + More

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• 2024 (12) TMI 1153
  Legality of Articles 13 and 14 of the Concession Agreement - direction to NTBCL to cease the imposition of user fees or toll upon commuters using the DND Flyway - maintainability of Writ Petition purportedly filed in public interest, before the High court - non-floating of tenders - power to levy fees could be delegated to the Appellant or not - excessive delegation - Article 14 of the Concession Agreement, opposed to public policy or not - recovery of Total Project Cost and Returns - recovery of dues from the Appellant, in regards to the display of outdoor advertisements. Maintainability of the Writ Petition before the High Court - Locus st....... + More

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• 2024 (12) TMI 957
  Enforceability of the Deed of Guarantee as against the Plaintiff - statutory bar to the reliefs sought - non-existence of Deed of Guarantee before the Tribunals in which proceedings have been initiated - suit barred by time limitation - whether the personal guarantee became effective? - HELD THAT:- The recitals and clauses in the Deed of Guarantee, on their plain reading, leave no manner of doubt that the guarantee was conditional. The condition being the CDR package sanctioned by CDR EG accepted by all the lenders. The communication dated 23 March 2016 addressed by the Corporate Debt Reconstructing Cell (Exhibit C) to the Indian Overseas Ba....... + More

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• 2024 (12) TMI 887
  Refusal of prayer of the plaintiffs/appellants for interim injunction - locus standi of the plaintiffs/appellants to initiate the suit - seeking declaration that the decision taken by the defendants/respondent-Company to obtain leasehold rights in their favour is illegal, null and void - limited scope of interference in a Letters Patent appeal, which is a unique power vested in the High Courts, more particularly, Chartered High Courts. Locus standi of the plaintiffs/appellants to initiate the suit - Whether the plaintiffs, as universal legatees of the estate of Late Smt. Priyamvada Debi Birla, have the legal standing to initiate the suit? - ....... + More

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• 2024 (12) TMI 848
  Compromise or not - recourse to filing of a Miscellaneous Application for orders - permission to Applicants to do something indirectly which they are not otherwise able to do directly - extension of Order by resorting to the proceedings by filing the Miscellaneous Application, could at all be permitted to be carried, beyond the terms of the compromise or settlement, which may have a bearing of revival of power of the erstwhile Director, who otherwise, stands removed from the post of Managing Director - invocation of Section 421 of the Companies Act, 2013 in a proceedings which was otherwise drawn under Sections 397, 398, 402 403 of the Compa....... + More

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• 2024 (12) TMI 747
  Dismissal of application filed by the appellant herein by which the appellant had offered the attachment of a flat in lieu of the requisite pre-deposit as mandated under Section 43 (5) of the RERA - Section 58 of the Real Estate (Regulation Development) Act, 2016 - HELD THAT:- The learned NCLAT has clarified that the Insolvency Resolution Process is only with respect to one of the projects being undertaken by the appellant company, which, we are informed, is not the same as the one which is the subject matter of the proceedings before the Real Estate Appellate Tribunal. The appellant, therefore, cannot seek any benefit of the moratorium that....... + More

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• 2024 (12) TMI 616
  Oppression and mismanagement - Respondent No. 1 company is a quasi-partnership or not - Family settlements - Alleged acquisition of shares by Respondent No. 2 and Late Trimbak Bedekar with a view to reduce the petitioners to minority - Non-payment of gratuity dues of Petitioner No. 1 - Entitlement of Petitioner No. 2 to be appointed as a director of the Respondent company - Petition barred by time limitation or not - Whether Respondent No. 1 company is a quasi-partnership? - HELD THAT:- According to the petitioners, the company was incorporated in 1943 under the Companies Act, 1913. Prior to that, business was being run by the HUF of Bedekar....... + More

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• 2024 (12) TMI 539
  Rejection of appellants application for release of the amounts deposited by the respondent - HELD THAT:- The appellants herein did not take any steps, at that stage, for seeking release of the amount deposited by the Company with the Registry of this Court and in our view, rightly so, the appellants were not entitled to any preferential payment, once the learned Company Court had decided to proceed with the winding up of the company. The contention advanced by the appellants that since their petition was prior in point of time and an amount was deposited during the course of the said petition, they would have a right to recover the amount de....... + More

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• 2024 (12) TMI 475
  Challenge to Impugned Order u/s 241 / 242 of the Companies Act, 2013 - failure to consider rival contentions and assigning the reasons, for either acceptance or the reasons for non-acceptance of the arguments while granting an Interim Order - violation of principles of natural justice - HELD THAT:- It is needless to say that, the assigning of the reason is the basic guiding principles for the Court of Law to justify the logic, as to what has transpired under the given set of circumstances to pass an order, which impeaches upon the rights of the either of the parties to the proceedings. But, owing to the argument extended by the Appellant and....... + More

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• 2024 (12) TMI 230
  Professional Misconduct - Section 132(4) of the Companies Act 2013 read with Rule 11(6) of National Financial Reporting Authority Rules 2018 - Failure to plan the audit and understand the nature of the audited entity and its environment as per SA 300 and SA 315 - Failure to verify opening balances required as per SA 510 - Failure to report material misstatement due to non-provisioning of the ECL on trade receivables (Vikas had trade receivables of 171.46 crores in FY 2020-21 which was more than seven times the sales of 23.60 crores) and not charging depreciation on lease hold land and plant machinery - Failure to demonstrate sufficiency and ....... + More

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• 2024 (12) TMI 229
  Professional misconduct - Failure to plan the audit and understand the entity and its environment - Failure to evaluate the Internal Audit Function - Failure to determine Materiality and Performance Materiality - Failure to report non-provisioning in respect of the Expected Credit Loss - No evaluation of the arm's length pricing for Related Party Transactions - Failure to assemble the Audit File within 60 days of audit completion - Failure to report non-charging of depreciation of leasehold land and plant machinery - Failure to obtain sufficient and appropriate audit evidence through external confirmations - Failure to determine the appo....... + More

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Case Laws - IBC

• 2025 (1) TMI 229
  Rejection of claim filed by the Appellant - whether the RP had committed any irregularity in rejecting the claim of the Appellant for being belated and for being claim of such nature that it required adjudication which was beyond the jurisdiction of the RP? - HELD THAT:- In the present case, it is noticed that after the Corporate Debtor was admitted into the rigours of CIRP on 13.12.2021. The Interim Resolution Professional had undisputedly made a Public Announcement on 17.12.2021 in compliance with Sections 13 and 15 of the IBC read with Regulation 6 of CIRP Regulations. The Public Announcement had set 27.12.2021 as the deadline for claim s....... + More

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• 2025 (1) TMI 228
  Direction for fresh valuation of intangible assets after the approval of a Resolution Plan - seeking direction to permit the revised Resolution Plan to be reconsidered which has been rightly rejected by the Adjudicating Authority noticing the submissions of the Resolution Professional that it is open for the Appellant to submit Resolution Plan in pursuance of fresh Form G - HELD THAT:- There is no dispute between the parties that initially Resolution Plan filed by the Appellant was approved on 30.12.2019 and Resolution Professional has also filed IA No.102 of 2020 for approval of the Resolution Plan. Unsecured financial creditor filed an IA ....... + More

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• 2025 (1) TMI 227
  Invocation of personal guarantee - Section 95 application was filed on behalf of Respondent No.1 Bank by a person having valid authority or not. Invocation of personal guarantee - HELD THAT:- It is an admitted fact that the Corporate Debtor had not performed its obligation of debt repayment and its account was declared NPA and was later admitted into CIRP. It is a settled position in law that under Section 128 of the Indian Contract Act, 1872 the liability of the surety is coextensive with that of principal debtor unless it is otherwise provided by the contract. The same coextensive liability applies in the case of the personal guarantors. O....... + More

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• 2025 (1) TMI 82
  Maintainability of petition - availability of alternative remedy - Money Laundering - territorial jurisdiction of Rajasthan High Court to entertain the writ petition challenging the order of the NCLT, Mumbai - jurisdiction of NCLT, Mumbai to vacate the attachment orders issued by the Enforcement Directorate (ED) under the PMLA, 2002 - vacation of attachment order in exercise of powers under Section 238 of the IB Code read with Rule 11 of the NCLT Rules - petitioner was not made party in the proceedings before the NCLT, Mumbai - violation of principles of natural justice. Violation of principles of natural justice - HELD THAT:- The order date....... + More

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• 2025 (1) TMI 81
  Non-admission of the claim by the Resolution Professional - direction to IRP to get the Resolution Plan modified so as to comply with Regulation 42 and 44 of the Liquidation Process Regulations, 2016 - deduction of amount from the final payment to be made to Applicant as per the scheme of distribution of amount under Resolution Plan - direction to Respondent Resolution Professional to further include amounts towards LC payments and towards Bank Guarantee (BG) payments in the total admitted claim of Applicant - HELD THAT:- The Resolution Plan came to be approved by the CoC with vote share of 70.07%. The appellant has voting share of 6.64% and....... + More

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• 2024 (12) TMI 1461
  Maintainability of petition - applicability of principle of estoppel - Constitutinal validity - Sections 13 of the SARFAESI Act, 19 of the RDB Act, and Sections 7, 9, 10, and 95 of the IBC - jurisdictional bars under Section 34 of the RDB Act, Section 34 of the SARFAESI Act, and Section 63 of the IBC - benefits of Sections 7 and 8 of the MSMED Act of 2006 - HELD THAT:- All the petitions have been filed by the same counsel and, therefore, the petitioners have full knowledge that such repeated petitions have been filed before different High Courts, with identical prayers. It is further found that although in paragraph nos.77 and 78 of the pres....... + More

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• 2024 (12) TMI 1460
  Institution of a civil suit claiming a relief by way of a title over the 100 equity shares of the MRF - simultaneous pursuit of a civil suit and a company petition by the Appellant was permissible under the Companies Act, particularly in light of Section 430 of Companies Act or not - HELD THAT:- The dismissal of the Company Petition on 10.08.2022, cannot be legally faulted, because admittedly on that date the Appellant was pursuing two simultaneous remedies, one by way of the Company Petition and the other, by way of a civil suit, which was pending despite of the undertaking given by the Appellant to withdraw the same. Though the withdrawal ....... + More

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• 2024 (12) TMI 1410
  Validity of Look out circular - seeking permission to travel abroad to Dubai and Europe - whether respondent has always cooperated with the investigating authorities in pursuance to the notices/summons received by him? - HELD THAT:- It is undisputed that the investigation in the present case has been pending since 06.06.2022 and with respect to the FIR registered by EOW on 13.04.2021, no Charge Sheet has been filed till date. Further, the petitioner has been involved in the investigation whenever he has been summoned by the Investigating Agencies and has disclosed the required information. The learned senior counsel on 24.12.2024, on instruc....... + More

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• 2024 (12) TMI 1316
  Challenge Process conducted by the Resolution Professional - Negotiation Process initiated by the CoC/Resolution Professional after the Challenge Process - eligibility to submit a Resolution Plan as per Clause 3 of the Invitation for Expression of interest and the net worth and the turnover of the promoter - material irregularities committed by the Resolution Professional within the meaning of Section 61(3)(ii) of the IBC. Whether the Challenge Process conducted by the Resolution Professional on 27.10.2023 was not in accordance with the CIRP Regulations, 2016 as well as Process Note dated 12.10.2023? - HELD THAT:- After receipt of the Resolu....... + More

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• 2024 (12) TMI 1315
  Admission of Application u/s 7 of the Insolvency and Bankruptcy Code, 2016 - non-fulfillment of the threshold requirement of 100 allottees - Existence of debt and default on the part of the Corporate Debtors in delivering the units within 36 months with grace period of 12 months or not - Existence of privity of contract between the land owning Company and the allottees or not. Non-fulfillment of the threshold requirement of 100 allottees - HELD THAT:- The effect and consequence of the order, rejecting the Application to initiate criminal proceedings against the Financial Creditors in a class, cannot be bypassed by the Appellant(s) by filing ....... + More

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• 2024 (12) TMI 1314
  Time limitation of Section 95 application filed by the Respondent No. 1 Bank - Section 95 application was filed by a duly authorized person or not. Whether the Section 95 application filed by the Respondent No. 1 Bank was time-barred? - HELD THAT:- Demand Notice under Rule 7(1) clearly stipulated that the debt was due on 04.06.2021 being the date of Demand Notice under Section 13(2) of the SARFAESI Act. The date of default in the Rule 7(1) notice was clearly shown as 04.08.2021 being 60 days from 04.06.2021. The Section 13(2) Notice was also attached with the Rule 7(1) Notice. Since the guarantee deed specifically mentioned that the guarante....... + More

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• 2024 (12) TMI 1313
  Ownership of property - Validity of the Slump Sale Agreement between the Corporate Debtor and the Appellant - no detail of the loan placed on record - dubious and preferential transaction, carried out to defraud the Creditors - HELD THAT:- Although Appellant has vehemently argued that the amount of Rs. 42.86 Crores was an unsecured loan towards the Corporate Debtor, but there is no documentary evidence that the Corporate Debtor has availed such a huge loan from the Appellant. The Tribunal has also categorically observed that there was no registered Sale/Conveyance Deed, executed between the Parties of the Immovable Property, which as per Sec....... + More

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• 2024 (12) TMI 1248
  Exercise of inherent powers of this Court under Section 482 of the CrPC (now Section 528 of the BNSS) - Immunity from prosecution under Section 32A of the Insolvency and Bankruptcy Code (IBC) - Lack of territorial jurisdiction - disclosure of offences in the FIR. Exercise of inherent powers of this Court under Section 482 of the CrPC (now Section 528 of the BNSS) - HELD THAT:- The Hon ble Supreme Court, in Neeharika Infrastructure [ 2021 (4) TMI 1244 - SUPREME COURT ] , reiterated the principles to be followed while quashing an FIR and held ' When a prayer for quashing the FIR is made by the alleged accused, the Court when it exercises t....... + More

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• 2024 (12) TMI 1247
  Seeking withdrawal of the Insolvency Petition u/s 12A of the IBC r/w Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 - submission pressed by the Appellant is that the Resolution Professional has no jurisdiction to pray for withdrawal of the application. Whether the Resolution Professional had any jurisdiction or authority to file a purshish for withdrawal of the application? - HELD THAT:- It was the Resolution Professional who has filed the application seeking withdrawal of the CIRP. The Hon ble Supreme Court had occasion to consider the entire statutory scheme for withdrawal of CIRP in rece....... + More

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• 2024 (12) TMI 1246
  Determination of the date of default for the purpose of invocation of the proceeding under Section 7 of I B Code - Appellant had preferred Writ Petition before the High Court of Telangana and the same is still pending consideration - what would be the criteria to determine, as to what would be the date of default has to be, either 01.10.2012 or 03.01.2020, where the OTS/Compromise was in favour of the Financial Creditors was ultimately withdrawn in the meeting of the members of consortium on 04.02.2019? HELD THAT:- The Ld. Adjudicating Authority while scrutinizing the propriety of the judgment referred to, as rendered in the matters of Bijno....... + More

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• 2024 (12) TMI 1203
  Admission of application u/s 7 of the Insolvency and Bankruptcy Code, 2016 - withdrawal u/s 12A of the IB Code - HELD THAT:- In view of Section 12A of the IB Code, obviously on the basis of the statement of the first respondent, interference cannot be made with the impugned order - the view taken by the NCLAT is agreed upon. There is no error therein. Accordingly, the appeal is dismissed.

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• 2024 (12) TMI 1202
  Suspension of Petitioner s registration as an Insolvency Professional for a period of one year by Disciplinary Committee - Petitioner s engagement of M/s Ibay Capital, a firm owned by his brother, without proper disclosure of appointment to the Committee of Creditors - submission of a valuation report prepared by M/s iVAS Partners, whose appointment and fee had not been approved or ratified by the CoC - purported failure to take timely and appropriate action against Gravity Facility Management Solutions Pvt. Ltd. for non-payment of water charges. Non-disclosure of Related Party Transaction pertaining to M/s Ibay Capital - Petitioner s engage....... + More

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• 2024 (12) TMI 1201
  Condonation of delay of 156 days in re-filing the appeal - sufficient cause for not filing the Appeal presented or not - HELD THAT:- From the series of events as enumerated, it is noted the Appellant has not been vigilant enough in prosecuting the Appeal which was initially e-filed on 01.06.2023 and finally refiled on 22.11.2023 after a huge delay of 156 days. The explanation given by the Appellant is found to be not sufficient to condone the delay. The Respondent has also relied upon various judgments of Hon ble Apex Court. The adherence to procedural timelines has been emphasised again and again by Hon ble Apex Court and also this Appellat....... + More

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• 2024 (12) TMI 1200
  Rejection of intervention application filed for the purposes of approval of the Resolution Plan under Section 30 of I B Code - Applicant/Appellant herein had participated and has been determined as to be an unsuccessful Resolution Applicant - locus standi to become a party to the proceedings - Impleadment of M/s Lulu International Shopping Malls Private Limited. Rejection of Intervention Application - HELD THAT:- The Applicant himself was admittedly determined as be an unsuccessful Resolution Applicant. The rejection of the of the intervention Application was rightly made because the Appellant was not even required to be heard even at the co....... + More

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• 2024 (12) TMI 1199
  Dismissal of petition for being barred by limitation as having been preferred beyond the prescribed period contemplated under law for initiation of the CIRP proceedings - HELD THAT:- In the instant Appeal, actual balance period of limitation remaining with effect from 01.03.2022 is the period from 01.03.2022 to 06.09.2022, that is, 190 days. Since this is greater than 90 days, the end date of limitation period will continue to be 06.09.2022 and not 22.08.2024 as contended by the Appellant. The determination of period of limitation as it has been sought to be impressed upon by the Counsel for Appellant, in which he is attempting to compute th....... + More

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Case Laws - PMLA

• 2025 (1) TMI 153
  Seeking grant of bail - money laundering - proceeds of crime - it is alleged that petitioner was involved in dealing with the proceeds of crime and in transferring of funds of M/s. PACL through various companies and making transactions of purchasing of properties etc. - it was held by High Court that ' The petitioner herein is admitted on bail on his executing a personal bond of Rs.25.00 lacs with one surety of like amount to the satisfaction of the learned Trial Court and subject to conditions imposed'. HELD THAT:- It is not required to interfere with the impugned order. Although it is made clear that the observations made in the im....... + More

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• 2025 (1) TMI 152
  Maintainability of SLP - Time limitation - HELD THAT:- Though on a prima facie view, the submissions made by learned counsel appearing for the petitioner is agreed, in view of the fact that the impugned order has been passed more than two and a half years ago, and much water has flown under the bridge thereafter, it is not required to interfere with the impugned order(s). SLP dismissed.

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• 2025 (1) TMI 151
  Seeking grant of Anticipatory Bail - commission of a serious economic offence of money laundering - offence punishable under Section 3 read with Section 4 of the Prevention of Money Laundering Act, 2002 - HELD THAT:- In view of the statement made and subject to compliance and deposit as directed, the appellant, Rajkumar Daitapati, shall be released on bail in the event of being arrested in connection with ECIR No. JPZ0/1/2015 (Sessions Case No.37 of 2021) (Enforcement Directorate vs. Rajkumar Daitapati) for the offences punishable under Section 3 read with Section 4 of the Prevention of Money Laundering Act, 2002, on the terms and conditions....... + More

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• 2025 (1) TMI 150
  Grant of Regular bail - Moeny Laundering - collection of illegal levy amounts from the coal transporters - alleged offences under Sections 420, 120-B, 384 of the IPC and Sections 7, 7-A, 12 of the Prevention of Corruption Act, 1988 - HELD THAT:- The prosecution has collected the material regarding active involvement of the applicants in the syndicate and main accused-Suryakant Tiwari has extorted money, which has been utilized for purchase of properties. Thus, involvement of the applicants in commission of offence under Section 7, 7A 12 of the PC Act, is prima facie reflected. Hon ble the Supreme Court while considering the gravity of econom....... + More

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• 2025 (1) TMI 149
  Money Laundering - attachment of the properties acquired prior to the commission of the alleged crime - misappropriation of the funds in conspiracy with government officials - lapse of attachment order after expiry of 180 days - No connection between properties and proceeds of crime - Invalidity of scheduled offence. Properties acquired prior to commission of crime could not have been attached - HELD THAT:- There are no force in the first argument when the proceeds out of crime was not available with the appellant rather vanished and siphoned off,the property of equivalent value has been attached. The proceeds were siphoned off by diverting ....... + More

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• 2025 (1) TMI 80
  Seeking issuance of ex-parte ad-interim order directing the Respondents not to access and copy the contents of Mobile phone of the Applicant No. 2 - issuance of ex-parte ad-interim order staying the effect and operation of summons under Section 50 of the PMLA issued to the Applicant No.2 and the summons - HELD THAT:- Issue notice on the application seeking interim relief, returnable on 17th February, 2025.

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• 2025 (1) TMI 13
  Money Laundering - whether the High Court is justified in quashing the summons on the premise that the respondent has been discharged in the predicate offence? - HELD THAT:- What has been issued to the respondent is merely a summons. Simply because he has been discharged in the predicate offence, a Court cannot quash the summons. The questions as to whether the respondent would be arrayed as an accused or not, is a matter which has to be decided at a later stage. In that eventuality, it is well open to the respondent to raise all relevant contentions for the aforesaid purpose including the submissions that since the predicate offence has bee....... + More

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• 2025 (1) TMI 12
  Money Laundering - Seeking grant of Anticipatory Bail - commission of a serious economic offence of money laundering - offence punishable under Section 3 read with Section 4 of the Prevention of Money Laundering Act, 2002 - it was held by High Court that ' The anticipatory bail application filed by the petitioner is dismissed.' HELD THAT:- In view of the averments made in the present application, the order dated 21.11.2024 is partly modified and it is clarified that the appellant, Rajkumar Daitapati, has deposited ₹80,00,000/- in the account of the respondent, Directorate of Enforcement, in the Union Bank of India (erstwhile, C....... + More

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• 2025 (1) TMI 11
  Money Laundering - Seeking grant of bail - Money Laundering - proceeds of crime - diversion of funds - disproportionate assets more than 14 crores - it was held by High Court that ' It is deemed appropriate to allow this application and the applicant herein enlarged on bail subject to the conditions imposed' - HELD THAT:- It is not inclined to interfere with the ultimate conclusion arrived at by the High Court, taking into consideration the length of time, coupled with the fact that a complaint has already been filed. SLP dismissed.

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• 2025 (1) TMI 10
  Seeking grant of bail - Money Laundering - collecting illegal bribes and controlling the high level management of important State Departments and State Public Sector undertakings - HELD THAT:- In the case in hand, the factors enumerating in the case which should be taken in consideration while granting or refusing bail in a non-bailable case are that there are three charge sheets filed against the applicant in relation to the same allegations, 457 witnesses have been cited and more than 13,000 pages have been filed before the Special Court (PC) Raipur. It is trite that the court while considering an application seeking bail, is not required ....... + More

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• 2025 (1) TMI 9
  Seeking grant of bail - Money Laundering - proceeds of the crime - unexplained source of income - prolonged incarceration of the petitioners without the commencement of trial - applicability of twin conditions under Section 45 of the PMLA, 2002 - HELD THAT:- In the case on hand, the petitioners have been in judicial custody for the last 14 months; the investigation of the crime, so far as the petitioners are concerned, is complete, and the complaint has been filed. But the investigation into the predicate offence is not complete and the charge sheet has not been filed. Therefore, there is not even the remotest possibility of the trial in the....... + More

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• 2024 (12) TMI 1459
  Seeking grant of bail - appellants are in custody for about one year and one month but charge has not been framed in a complaint filed under the Prevention of Money-Laundering Act, 2002 - delayed trials - role of the Public Prosecutor in opposing bail applications - HELD THAT:- It is well settled that a Public Prosecutor has to be fair. If a case is covered by a binding precedent, it is his duty to point out the said aspect to the Court. Perhaps what the learned Judge intended to was that when the Public Prosecutor is satisfied that the trial has been delayed on account of default or conduct on the part of Enforcement Directorate, the Public....... + More

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• 2024 (12) TMI 1458
  Money Laundering - predicate offence - proceeds of crime - petitioner is a bona fide purchaser or not - petitioner can be subjected to proceedings under the Prevention of Money Laundering Act, 2002 (PMLA) based on the alleged predicate offences committed by the vendor or not - HELD THAT:- The link in the chain of events and undisputed dates are taken note of, what could be unmistakably gathered is, that the petitioner is a bona fide purchaser. Having purchased the property long before the crime even being initiated against the vendors of the petitioner would not mean that the axe should fall on the petitioner, that too for attachment of prop....... + More

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• 2024 (12) TMI 1457
  Money laundering - scheduled offence - loan borrowed by the companies have facilitated mis-appropriation, manipulation of books of accounts through fictitious accounts and conversion of property of SIL by way of No. (1) Capital advances to potentially related party, (2) Sales and purchase with potentially related properties (3) bilateral transactions with properties related amongst themselves - petitioner mainly contended that the respondent cannot proceed under PMLA in view of the quashment of predicate offence - legal grounds on which FIR pertaining to the scheduled offence was quashed - scheduled offence of section 447 of the Act is still....... + More

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• 2024 (12) TMI 1409
  Money Laundering - proceeds of crime - time limitation - Failure to abide by procedural compliance u/s 17 of PMLA - reasons to believe - Seeking retention of records/documents, cash, gold and precious stones, metal jewellery, electronic items/digital devices seized during the search - section 26 of Prevention of Money Laundering Act, 2002 - Whether appellant can be proceeded against under PMLA, 2002, since it is not named as accused in any FIR or chargesheet, also there being no nexus of it with the ECIR case and CBI case? Time limitation - HELD THAT:- The first contention of the appellant is that the OA No. 757 of 2002 was passed on 22.08.2....... + More

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• 2024 (12) TMI 1366
  Seeking to quash the order of provisional attachment - order of provisional attachment of immovable properties of the petitioner is without jurisdiction or not. Whether this writ petition is maintainable? - HELD THAT:- The scheme of section 5 (3) of the PML Act indicates that a person aggrieved by a provisional order of attachment cannot challenge such an order before any authority - In Santiago Martin v. Union of India [ 2023 (10) TMI 66 - KERALA HIGH COURT ] it was observed that there is no appeal against a provisional attachment order. The statute contemplates a complaint to be filed by the Officer who issued the attachment order to prefe....... + More

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• 2024 (12) TMI 1309
  Confiscation of properties - Money laundering - scheduled offence - appellant would contend that the Special Court without issuing the notice to the appellant has passed the impugned order confiscating the properties of the appellant - violation of principles of natural justice - Applicability of Criminal Procedure Code (Cr.P.C) provisions to the proceedings under PMLA. Applicability of Criminal Procedure Code (Cr.P.C) provisions to the proceedings under PMLA - HELD THAT:- Except as otherwise provided in the P.M.L.A Act, the provision of Cr.P.C., are made applicable to the proceedings before the Special Court. The order of confiscation of th....... + More

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• 2024 (12) TMI 1308
  Money Laundering - scheduled offences - challenge to provisional attachment under Section 5(1) of PMLA, 2002 - Distribution of exorbitant and unjustified compensation to farmers with the intention of getting monetary benefits - misappropriation of government funds by way of granting compensation on acquisition of land at non-agricultural rate for the agricultural land which resulted into loss to Government - Non-completion/concluding of adjudication proceedings within prescribed period of 180 days - No scheduled offence and offence of money laundering is made out as per the observation of Ld. Special Judge (PMLA), Dehradun, Uttarakhand Non-c....... + More

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• 2024 (12) TMI 1307
  Maintainability of the Appeal in reference to Section 26 of the Prevention of Money Laundering Act, 2002 against the Provisional Attachment Order - Writ Petition before the High Court invoking jurisdiction under Article 226 of the Constitution of the India - HELD THAT:- An interim order was passed but ultimately the Delhi High Court relegated the Appellant to approach the Tribunal and for that Writ Petition was order to be treated as an Appeal. The copy of the Writ Petition was accordingly presented by the Appellant and was registered as an Appeal in compliance of the order of the High Court. The perusal of sub Section (1) and (2) reveals th....... + More

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• 2024 (12) TMI 1198
  Money Laundering - Jurisdiction of the E.D. to attach the properties of the Corporate Debtor, which was undergoing Corporate Insolvency Resolution Process, particularly in the light of Section 32A of the Insolvency and Bankruptcy Code, 2016 - provisional attachment of the properties - proceeds of crime as defined u/s 2 (1) (u) of the PMLA - HELD THAT:- In view of the submissions made by the learned counsel for the E.D. and the learned counsel for the CoC and for the successful Resolution Applicant JSW, following order is passed without expressing any opinion on the merits of the Appeals and without prejudice to the rights and contentions of ....... + More

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Case Laws - SEBI

• 2025 (1) TMI 17
  Persons/entities traded in the scrip of IAL while in possession of Unpublished Price Sensitive Information ( UPSI ) - higher price rise seen - contravention of provisions of Section 12A of the SEBI Act and PIT Regulations, 2015 - information of a stock split considered as Unpublished Price Sensitive Information (UPSI) or not? - - HELD THAT:- Splitting of stock per se is a Price sensitive information, since splitting of stock is an important decision for a company, (requiring approval of general body of shareholders under Section 61 of the companies Act, 2013), which is intended to improve the liquidity of stock and its affordability, which i....... + More

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• 2025 (1) TMI 16
  Applicability of corporate governance provisions - applicability of Regulation 23 of SEBI (LODR) Regulations Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 to appellant Company - Appellant s solitary contention is that the paid-up share capital is less than Rs.10 crores, thus entitled for exemption from compliance with the corporate governance provisions - HELD THAT:- It is settled that words of a statute are understood in their natural and ordinary sense; and sentences are construed according to their grammatical meaning. It is also settled that if the enacting portion of a Section....... + More

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• 2025 (1) TMI 15
  Validity of SEBI's interim directions - lack of an opportunity for the appellant to be heard provided as alleged - appellant has executed Related Party Transactions without obtaining prior approval from the shareholders in terms of Regulation 23(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - As argued there have been series of correspondence between the appellant and the SEBI but the impugned order interim ex-parte order has been passed without any tenable reasons - HELD THAT:- We are of the opinion that prima facie, is indubitable that appellant and SEBI were in exc....... + More

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• 2024 (12) TMI 1465
  Unlawful gains by fraudulent and manipulative strategy made by Reliance Company - responsibility of noticee no. 2 i.e. the Managing Director - violating Section 12A of the SEBI Act r/w Regulations 3 and 4 of the SEBI PFUTP Regulations - vicarious liability on both criminal and civil liability for contravention of the SEBI Act, Rules and Regulations - Liability against violations committed by the company As decided in RELIANCE INDUSTRIES LIMITED, MR. MUKESH D. AMBANI, NAVI MUMBAI SEZ PVT. LTD., MUMBAI SEZ LTD. VERSUS SECURITIES AND EXCHANGE BOARD OF INDIA, [ 2023 (12) TMI 260 - SECURITIES APPELLATE TRIBUNAL MUMBAI] the word complicit means in....... + More

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• 2024 (12) TMI 1464
  Interest levied by the SEBI on the appellant - SEBI discretion to decide interest charged on outstanding registration fees - expert committee was constituted under Shri R. S. Bhatt (Bhatt Committee) recommended turnover as a fair basis of determination of the registration fee and recommended differential rates of fee for different types of transactions. HELD THAT:- It cannot be held that this Tribunal had given any discretion to the SEBI for calculating interest deviating from the existing Regulations, which provides for mandatory charging of interest Respondent is right in his submission that in the given set of facts of this case, the word....... + More

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• 2024 (12) TMI 1463
  Forward Market Commission (FMC) powers to conduct audit/inspection and exercise its jurisdiction on the shareholders of the associates - Fraudulent acts and passing on illegal monetary benefits to the entities controlled/connected - abuse of position and commission of irregularities in the affairs of NMCE by the appellant No. 1, through certain employees of the NMCE, to pass on unlawful benefits to the appellant No. 2. Forward Market Commission (FMC) - FMC was vested with wide powers by FCRA for observing Forward Market and taking such action in relation to them, as it may consider necessary , and allows it to make an inquiry in relation to ....... + More

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• 2024 (12) TMI 1462
  Failure to comply with the provisions of Regulations 15(1)(i) of Debenture Trustees Regulations SEBI (Debenture Trustees) Regulations, 1993 - penalty of Rs. 10 lakhs u/s 15HB of the SEBI Act, 1992 imposed - default of Code of Conduct under the Debenture Trustee Regulations Appellant has not reported that there were more than 49 investors in the NCDs, though it had received the relevant communication from Karvy on April 1, 2014 along with list of investors. Secondly, that appellant had sought to suppress the receipt of the BENPOS report from Karvy and did not furnish the same till two reminders were sent and finally forwarded the report on Au....... + More

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• 2024 (12) TMI 615
  Writ against private communications in which the SEBI has only expressed its opinion on a legal provision - Availability of alternate remedy under Section 15-T of SEBI Act - Petitioner s case is that Respondent Nos. 4 and 6 had borrowed amounts from the Petitioner bank and have defaulted in the payment of the same and involves initiating proceedings under the SARFAESI Act 2002, in which the Petitioner has already taken possession of the properties of Respondent Nos. 4 and 5. SEBI has already made an order dated 11 January 2023 prejudicing the Petitioner s interest to deal with the property of Respondent Nos. 4 and 5, the possession of which ....... + More

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• 2024 (12) TMI 538
  Validity of Show cause notice - scope of judicial review of a show cause notice SEBI power to review or revisit its earlier decisions - argument about delay or laches - whether the Petitioners have made out a case to secure the quashing of the impugned show-cause notice or nip the proceedings in the bud? Delay or laches - HELD THAT:- The principle on which the relief to the party on the grounds of laches or delay is denied is that the rights which have accrued to others by reason of the delay in filing the Petition should not be disturbed unless there is a reasonable explanation for the delay. The real test to determine the delay in such cas....... + More

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• 2024 (12) TMI 413
  Settlement Applications rejected by SEBI - documents submitted by the Petitioner were deficient and that the Petitioner did not maintain its worth for the Financial years ended March 31, 2019, March 31, 2020, and March 31, 2021 - number of opportunities granted to the Petitioner and the lack of compliance HELD THAT:- As noted earlier, the petitioner has not even alleged any mala fides or breaches of the SEBI Act or the Settlement Regulations. The argument based upon alleged unfairness is not supported by the record. The petitioner cannot be assisted in simply keeping its settlement application pending and disabling the SEBI from effectively ....... + More

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• 2024 (12) TMI 295
  Petitioner deprived of the arbitration remedy - challenge to Clause 7 of SEBI Circular[SEBI/HO/MIRSD/DPIEA/CIRP/2020/2015] on the grounds that it is arbitrary and unconstitutional - the impugned clause provides that once a member is disabled or show cause is issued for declaring such member as a defaulter to a Trading Member (TM)/Clearing Member (CM) (whichever is earlier), no further Investor Grievance Redressal Committee ( IGRC )/arbitration meetings shall be conducted HELD THAT:- We are satisfied that the petitioner is abusing our extraordinary and discretionary jurisdiction to buy time, having solemnly declared that it has no means to pa....... + More

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• 2024 (12) TMI 164
  Validity of Regulation 3(2) (b)(i) of the SEBI (Delisting of Equity Shares) Regulations, 2021 ( Delisting Regulations ) as being ultra-vires to SEBI Act, 1992 - Applicability of the Insolvency and Bankruptcy Code (IBC) over SEBI Regulations - Petitioner challenges the Order which approved the Resolution Plan providing for the delisting of shares of Reliance Capital Limited ( RCL ) and the further consequent circulars issued by the National Stock Exchange and the Bombay Stock Exchange announcing suspension of trading in the scrip of RCL. HELD THAT:- As considering that IBC is a complete code containing a non-obstante clause, a delisting of eq....... + More

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• 2024 (11) TMI 738
  Validity of SEBI Settlement Proceedings Regulations - scope of Regulations 6(1)(f) and 13(2)(ba) of the SEBI (Settlement Proceedings) Regulations, 2018 - Communication by which the petitioners settlement proposal came to be rejected - non following specific condition precedent(s) that they would have to comply with for consideration of their settlement applications - allegation of petitioners conduct of stalling or delaying the adjudication of the SCN. Allegations about the noticees acting in concert while acquiring shares of Abans Enterprises Ltd. (AEL) without making the required disclosures under the SAST Regulations. There are allegation....... + More

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• 2024 (11) TMI 617
  Proceedings against executive director for the alleged fraudulent activities of the company - as argued petitioner had tendered resignation and resigned from the said Amrit Projects Limited and all its group of companies in the year 2013 - HELD THAT:- An executive director is a senior-level executive responsible for the overall management and leadership of an organization. The executive director reports to the board of directors and is responsible for setting the strategic direction for the organization, overseeing day-to-day operations, and ensuring the organization s goals and objectives are met. Executive directors are appointed by the bo....... + More

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• 2024 (11) TMI 529
  PIL seeking several reliefs to deal with the menace of entities issuing financial instruments like Agro Bonds, Plantation Bonds, etc. (Financial Schemes) luring investors with promises of high returns but without any tangible securities leaving the investors in a lurch - SEBI instituted this Public Interest Litigation when there was no effective regulatory and statutory framework to control the mushrooming number of entities indulging in such financial schemes HELD THAT:- By orders made in this petition, the Deputy Commissioner of Police was appointed as the Investigating Officer and directed to file reports in sealed covers at the final hea....... + More

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• 2024 (9) TMI 1499
  Commercial transactions undertaken by and between private entities involving acquisition of shares of a life insurance company - Allegations of fraudulent acts and undue profits made by certain entities in the purchase and sale of equity shares of a life insurance company - HELD THAT:- This Court is of the view that where a field is regulated and where an appropriate regulator has either already taken note of and addressed the transaction or is investigating the said transaction, the Court in writ jurisdiction should not interfere. In such a situation, the regulator must be allowed to do its job. Writ of Mandamus being a public law remedy ma....... + More

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• 2024 (9) TMI 250
  Siphon off funds from the Reliance - public listed company by structuring them as loans to credit unworthy conduit borrowers - disproportionate lending - Moving of funds from the public listed company to non-descript and financially weak privately held companies connected with the Reliance ADA group - HELD THAT:- Credit defaults in financing business are not by themselves unusual or suggestive of fraudulent activity. Inter-corporate loans or related party transactions (subject to disclosures and compliance with law) are also not per se illegal or suspicious. However, the facts and circumstances of this case clearly indicate that the defaults....... + More

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• 2024 (8) TMI 1345
  Routing of funds to the Indian Securities Market by Noticee/Mr. Vijay Mallya -Violation of SEBI Act and PFUTP Regulations - financial route i.e. the FII route was used by the Noticee to trade in the Indian Securities market by concealing his identity - layering the transactions in the names of various overseas registered entities and opening accounts in their names in UBS-UK Bank, even though the Noticee himself was the actual beneficial owner of each of these front entities HELD THAT:- Noticee in abusing the framework of the FII Regulations and dealing in securities of listed companies of his group of companies in India, indirectly, in a fr....... + More

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• 2024 (8) TMI 1283
  Validity of criminal proceedings once settlement before the SEBI on the adjudication side concluded - allegation of fraudulent activities committed in the Initial Public Offering (IPO) of the shares - Jurisdiction of Single Judge OR Division Bench - whether the respondent had made out a case for quashing the proceedings will be independently decided by the Division Bench which will now hear the matter on remand? - HELD THAT:- The first round of proceedings arising out of Writ Petition [ 2018 (2) TMI 2119 - BOMBAY HIGH COURT] was heard and disposed of by the Division Bench, with the Division Bench rejecting the contention of the respondent an....... + More

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• 2024 (8) TMI 1282
  Freezing of demat accounts held by the petitioner with NSDL are freezed at the behest of BSE / NSE under the directives of the SEBI on account of an alleged default of Shrenuj in compliance of the SEBI (LODR) Regulations - HELD THAT:- The petitioner, a practicing gyneacologist, did not exceed his professional position, to take interest in the formation of Shrenuj or to promote or manage its day-to-day affairs. Also, after the incorporation of the company and constitution of the Board of Directors, the status and role of the petitioner as a promoter had come to an end. Hence, the obligation of non-submission of Financial Results and non-compl....... + More

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Case Laws - FEMA

• 2025 (1) TMI 14
  Initiating proceedings against the petitioner on the basis of provision which stood omitted by the Finance Act, 2015 - proceedings were initiated as against the petitioner alleging violation of Section 6 (3) (b) of FEMA Act in the year 2021 - As submitted the said provision stood omitted by the Finance Act, 2015, which was notified on 15.10.2019 - HELD THAT:- The provisions of the Finance Act, 2015 are quite specific. It provides for amendments to the FEMA Act and by Section 139 of Finance Act, 2015, Section 6 (3) of the FEMA Act stood omitted. The said omission was effective from the date of notification i.e., 15.10.2019. Thus, we notice th....... + More

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• 2024 (12) TMI 1367
  Contravention of Section 5 of FEMA read with Rule 4 of FEMA (Current Account Transactions) Rules, 2000, for remitting royalty to overseas parties exceeding within the permissible limit of 5% on local sales - HELD THAT:- During the adjudication proceedings, the respondents have filed CST returns and respective State Level Sales Tax Returns in which they have disclosed the actual sale for the purpose of taxation. This has been duly taken into account by the learned Adjudicating Authority, which is also borne out in page 168 of the RUD filed by the respondents. The above provisions clearly reflect that sale price only relates to the considerati....... + More

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• 2024 (12) TMI 1312
  Contravention of Section 8(1) - transferring foreign exchange equivalent to Rs. 208 crores without previous, general or special permission of the Reserve Bank of India - appellants, Shri Anil Agarwal, Navin Agarwal and D.P. Agarwal were charged for violation of Section 68 of the FERA, 1973 - HELD THAT:- The main argument of the appellants of putting burden of proof on the respondents even though they discharged their part of burden, cannot be accepted. The appellant Shri D.P. Agarwal was holding position in M/s Twinstar and was summoned but failed to appear and produce the documents. He did not respond to the summons. It cannot be to his ben....... + More

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• 2024 (12) TMI 1311
  Contravention of Section 10(6) of FEMA - Penalty imposed - import of copper scrap in 10 containers but all the containers were found empty carrying no copper scrap - Remittance of the foreign exchange was made by M/s G. Tex Inc. even without receipt of the documents by their banker - HELD THAT:- On the receipt of the consignment of 10 containers, they were found empty and thereby copper scrap was not found therein. It is despite the fact that M/s G. Tex had already effected remittance of US$ 6,56,864 through Bank of India, Bangaluru. Since the sale of copper scrap was made on high seas sale basis M/s G. Tex could receive part consideration f....... + More

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• 2024 (12) TMI 1310
  Contravention of the provisions of section 9(1)(e) along with 64 to of FERA - penalty imposed - Allahabad Bank opened a current account in the name of a non-resident company and sums were placed to the credit of the said non-resident company in form of deposits in the said current account, allegedly in contravention of section 9(1)(e) - HELD THAT:- It was the appellant Bank which was holding the permission/license under the Act subject to compliance with the foreign exchange law and rules and regulations framed thereunder. The same having been contravened, the appellant bank would be deemed to have contravened such provision. On the other ha....... + More

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• 2024 (12) TMI 1245
  Validity of delayed judgment and order made by the Special Director (Enforcement) - Inordinate and unexplained delay between the conclusion of the arguments and the pronouncement of the impugned order - HELD THAT:- As in the peculiar facts of the present case and upon considering the delay between the conclusion of arguments and pronouncement of impugned orders and further, also upon considering the explanation offered, we are satisfied that such an explanation hardly constitutes exceptional or extraordinary circumstances, and therefore that the impugned order dated 9 March 2009 warrants interference. We note that the appeal instituted by th....... + More

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• 2024 (12) TMI 1149
  Penalty imposed under FEMA - petitioner was appointed as Vice President of the Board of Control for Cricket in India ( BCCI ), and claims to have been appointed Chairman of the IPL governing body, a subcommittee of the BCCI - relief in this case is firstly against the BCCI on the ground that by-laws require the BCCI to indemnify the petitioner. HELD THAT:- In Zee Telefilms Ltd. Anr. Vs. Union of India Ors.[ 2005 (2) TMI 773 - SUPREME COURT] as held that the BCCI does not answer the definition of State within the meaning assigned to this term under Article 12 of the Constitution of India. Therefore, this petition and the reliefs sought for it....... + More

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• 2024 (12) TMI 1148
  Penalty imposed - failure take reasonable steps for repatriation of export proceeds of US$ 5,36,759.50 for the goods exported in the year 1997-98 - Ground of limitation - It would clearly reflect that respondent No. 2 had in fact issued the first show cause notice to the appellants on 23.01.2001 and the said date is well within the sunset period of two years prescribed u/s 49 (3) of the Act of 1999. The appellants have also submitted reply to the said notice on 01.12.2001, which again is within the sunset period itself, as in terms of Section 49 (3) of the Act of 1999 the proceedings could had been initiated up to 31.05.2002 which in the ins....... + More

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• 2024 (12) TMI 1096
  Non-grant of NOC by ED - legal framework under FEMA, 1999, which governs the issuance of such NOCs as a prerequisite for making ODIs - HELD THAT:- As prima facie the Petitioners emphasis on adherence to the valuation norms prescribed under FEMA regulations holds merit. They are correct in pointing out that the rules mandate that valuations must be conducted by Category-I merchant bankers registered with SEBI or overseas merchant bankers accredited by the host country s regulatory authority. TIL has complied with this requirement by engaging a SEBI-registered merchant banker. If the Respondents indeed possess cogent material indicating overva....... + More

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• 2024 (12) TMI 535
  Penalty imposed for contravention of provisions of 10(6) of FEMA - Remittance of Foreign Exchange to Overseas Banks for the import of various goods[Computer electronic Goods, Floppy drive, CD-ROM, Dot matrix Print Head, electronic goods etc] but the said Company failed to submit Bills of Entry for the said import - HELD THAT:- It is an admitted fact that during the investigation of the case, the appellant has managed to trace the documents of import qua the thirty remittances, and accordingly, the complaint was filed before the Adjudicating Authority for the remaining five instances pertaining to only ANZ Grindlays Bank. Out of the said five....... + More

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• 2024 (11) TMI 835
  Recognition and enforcement of a foreign award - Common petition filed by the Petitioner seeking recognition/enforcement and execution - HELD THAT:- In the wake of the decision in the case of Vedanta Limited [ 2020 (9) TMI 1178 - SUPREME COURT ] where it is clearly pronounced that there is no need to take two separate proceedings i.e. one for deciding the enforceability (recognition) of the award as a deemed decree and then separate proceeding for execution of the deemed decree thereafter, and it is open for the award holder to apply for recognition and execution of a foreign award by common petition. In stage 1, the Court would decide the e....... + More

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• 2024 (11) TMI 834
  Penalty for the contravention of Section 3(b) of FEMA, 1999 - under-invoicing to evade customs duty - significance of a statement recorded under Customs Act as relied upon - goods worth Rs. 6,01,82,311 imported as against the declared value of Rs. 1,71,62,087 against 26 Bills of Entry and had paid the differential amount in cash to the supplier in Japan in Indian Rupees in contravention of Sec. 3(b) of FEMA, 1999 Applicability of Customs Act on FEMA Issues - Reliance placed by the respondent Directorate on the proceedings conducted by the DRI under the Customs Act, 1999 - as contended that the intent and purpose of the two enactments are vas....... + More

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• 2024 (11) TMI 799
  Condonation of a delay of 138 days in filing an appeal - Order of Adjudicating Authority dropping the charges framed against the notice being Show Cause Notice issued u/s 6 (3)(a) and (h) of FEMA - HELD THAT:- Having heard the learned advocates for the respective parties and having perused the averments made in the application as well as the decisions relied upon, reading the proviso to Section 35 of the FEMA Act and in view of the judgment of the Hon ble Supreme Court in the case of Singh Enterprises [ 2007 (12) TMI 11 - SUPREME COURT] , this Court would have no jurisdiction to condone the delay in excess of 60 days . As can be noticed from....... + More

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• 2024 (11) TMI 798
  Failure to utilize the foreign exchange for the purpose for which it was acquired - Contravention for acquisition of foreign exchange and for remittance of the same through various Banks in Mumbai to their overseas suppliers for import of goods but failed to bring any goods into India - It was without any general or special permission of the Reserve Bank of India (RBI). - whether there was negligence on the part of the appellants/banks for opening of the LCs and remittance of the foreign exchange despite non-submission of bills of entry and reminders and a report to the RBI? HELD THAT:- The facts available on record shows receipt of the fore....... + More

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• 2024 (11) TMI 797
  Penalty on directors for contravening Export regulations under FEMA - non-realization of export proceeds - no documentary evidence in support of their contention of having made efforts to realize the export proceeds - Tribunal disposed of the applications for waiver of the pre-deposit of the penalty amounts with direction to deposit 10% of the amount of penalty imposed against each of them with Bank Guarantee for rest of the ninety per cent of the penalty within 30 days of the receipt of the Order - on legal advice they withdrew their suits before the Mumbai High Court and fresh legal suits were filed in the High Court of Justice, London. HE....... + More

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• 2024 (11) TMI 796
  Penalty imposed under FEMA - contravention on the part of the Respondent company was the non-compliance to the provisions of Paragraph 9(1)(B) of the Schedule 1 to FEMA Regulations, 2000 - HELD THAT:- Reading of Section 13 of FEMA,1999 which is a Section under which penalty is imposed for contravention of any of the provisions of the Act or any Rule, Regulation, Notification, Direction, Order or any condition subject to which an authorization is issued by the RBI makes it obvious that the language of the Section does not require intention for penalizing of contravention. On reading of Section 13 (1) FEMA, 1999, it is also obvious that the ma....... + More

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• 2024 (11) TMI 795
  Condonation of delay in filing appeal under FEMA - allegation against the Respondent No.1 was regarding his support to the accused involved in Bombay Blast Case and for which a case was registered under TADA - case for contravention of Section 9(1) (b) and (d) of Foreign Exchange Regulation Act, 1973 - prayer is made to dismiss the appeal filed beyond the period of limitation without proper explanation of delay of more than 800 days. HELD THAT:- In the instant case, the appellant Directorate have failed to show that there was receipt of payment from any person resident outside India and that Tiger Memon was resident out of India or for that ....... + More

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• 2024 (11) TMI 476
  Ex post facto approval granted to the respondent for foreign investment - order passed by a public authority - investment in a new company, alleging it violated the FDI policy - ex post facto approval can be given to the proposal of the respondent no. 5 subject to conditions and compounding by the Reserve Bank of India. HELD THAT:- In the present case a committee was constituted vide letter dated 16.02.2010 issued by DEA then the petitioners and the respondent no. 5 were called to present their respective case before committee. As further stated that once the committee gave its report then no need was felt to call the parties again before FI....... + More

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• 2024 (10) TMI 397
  Contravention of Section 3(a) of FEMA, 1999 - Appellant acquired and sold various foreign currencies to various persons resident in India - validity of the search and seizure conducted by the Respondent Directorate - Reliance on recorded statements with the independent corroborative evidence in the form of seized documents recovered from the residential premises of the Appellant HELD THAT:- The Appellant has not furnished any evidence to the contrary so as to disprove the statements recorded under oath under Section 37 of FEMA, 1999. The recorded statements with the independent corroborative evidence in the form of seized documents recovered....... + More

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• 2024 (10) TMI 396
  Imposition of penalty finding Contravention of Section 18(2) of FERA - export only against 06 GR by M/s. Universal Traders and 05 GR by Zen Series though in both cases 10 GR were issued by the Custom Department - HELD THAT:- GRs are issued by the Customs Department when export has to commence and thereby the export material is brought in the bonded area. It results in exports other than in the case of withdrawal of the export so is GR but there is nothing on record to prove it. The Adjudicating Authority has referred to the statement of KVS Ram Mohan, Manager of the Bank recorded on 30.04.2002. As per his statement M/s. Universal Traders fai....... + More

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Case Laws - Service Tax

• 2025 (1) TMI 226
  Duplication of a part of the demand already confirmed - respondent had failed to make mandatory pre-deposit - Revenue not heard during the appeal process before the Commissioner of Service Tax (Appeals II) - violation of principles of natural justice - HELD THAT:- As per Section 124 (2) of the Sabkha Vishwas Legacy Disputes Resolution Scheme, 2019, any amount paid under pre-deposit at any stage of Appellate proceedings under the Indirect tax enactment or as deposit during enquiry, investigation or audit, shall be deducted when issuing the statement indicating the amount payable by the declarant. It stands confirmed that a sum of Rs. 19,15,49....... + More

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• 2025 (1) TMI 225
  Recovery of service tax with interest and penalty - scope and limits of adjudicating authority's powers during de-novo proceedings - HELD THAT:- The scope of the impugned order therefore cannot go beyond the grievance of the Appellant. Any appeal is filed only against that portion against which the aggrieved party has any grievance and hence, scope of any Appeal cannot go beyond the Grounds of Appeal urged. Hence, by not filing any Appeal, department cannot feel aggrieved and thereby encash the remand order by misinterpreting such order to its benefit. Clearly, the same amounts to abuse and misuse of the process of law and hence, in our ....... + More

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• 2025 (1) TMI 224
  Refund of service tax paid - whether the Appellant being the developer / co-developer in Special Economic Zone entitled to refund of service tax paid by them in relation to their authorised operations? - HELD THAT:- In case of INOX INDIA P LTD VERSUS C.C.E. -KUTCH (GANDHIDHAM) [ 2024 (3) TMI 922 - CESTAT AHMEDABAD ], this Bench has considered the issue and decided ' We find that a substantive benefit of Service Tax exemption has been provided under the above Section 26 of the Special Economic Zone Act. Once the legislature by way of enactment has provided certain exemption we feel that any notification issued under any other enactment wi....... + More

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• 2025 (1) TMI 223
  Denial of exemption from payment of Service tax under Sr. No. 19 of Mega Exemption Notification No. 25/2012-ST dated 20.06.2012 and amended from time to time - extended period of limitation - HELD THAT:- The identical issue has been dealt with by this Tribunal in case of MATASHREE HOSPITALITY SERVICES VERSUS COMMISSIONER OF CENTRAL EXCISE ST, VADODARA-II [ 2024 (8) TMI 1507 - CESTAT AHMEDABAD] wherein it is observed that ' the appellant is clearly entitled for the exemption under Notification No. 25/2012-ST. Accordingly, the demand in the present case is not sustainable.' Conclusion - The exemption of Notification No. 25/2012-ST is c....... + More

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• 2025 (1) TMI 222
  Levy of service tax - reimbursement received by the appellant is a consideration towards provision of taxable service - Admissibility of CENVAT credit availed by the Appellant on the basis of the debit notes - admissibility of CENVAT Credit on the invoices issued for out of pocket expenses - Extended period of limitation - interest on CENVAT credit availed but not utilized. Whether the reimbursement of Rs. 2,79,58,760/- received by the appellant is a consideration towards provision of taxable service? - HELD THAT:- There is no service provided and it is shown only for the accounting purpose between two Divisions of the Appellant. Therefore, ....... + More

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• 2025 (1) TMI 221
  CENVAT Credit - input service was used by multiple coating centers located in different places - Department had alleged that the respondent was not entitled to avail cenvat credit at Pune unit inasmuch as the input service in question, was used by all coating centers located at different places - period of dispute involved in the present appeal is from April 2014 to January 2015 - HELD THAT:- For the earlier period i.e., from October 2009 to March 2014, the demands confirmed by the department against the respondent itself, on identical set of facts, was appealed against by the respondent before this Tribunal [ 2017 (5) TMI 889 - CESTAT MUMBA....... + More

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• 2025 (1) TMI 148
  CENVAT Credit on tax paid in terms of Deposit Insurance Act - input services or not - HELD THAT:- It is, worth-noting, that Mumbai Bench of this Tribunal had expressed its apprehension on the precedent value of M/S. SOUTH INDIAN BANK VERSUS THE COMMISSIONER OF CUSTOMS, CENTRAL EXCISE AND SERVICE TAX-CALICUT [ 2020 (6) TMI 278 - CESTAT BANGALORE - LB] Larger Bench decision for the reason that observations of Hon'ble Supreme Court in several other cases including that of COMMISSIONER OF CUSTOMS (IMPORT) , MUMBAI VERSUS M/S. DILIP KUMAR AND COMPANY ORS. [ 2018 (7) TMI 1826 - SUPREME COURT (LB)] concerning strict interpretation of taxation s....... + More

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• 2025 (1) TMI 147
  Classification of services - Business Auxiliary Service or not - procuring the services of providing cargo space by airlines for their clients use for the export of goods - HELD THAT:- Reliance placed in the appellant s own case for an earlier period in COMMISSIONER OF SERVICE TAX, CHENNAI VERSUS M/S. AVR CARGO AGENCY PVT. LTD. [ 2018 (6) TMI 524 - CESTAT CHENNAI] , wherein this Bench had considered the additional amount received as incentives based on the volume of transaction for the activity of forwarding cargo through the airlines and, after following other orders of coordinate Benches, this Bench had ruled in favour of the assessee and ....... + More

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• 2025 (1) TMI 146
  Refund claim - time limitation - present refund claim was resubmitted by the appellant on 03-09-2013 for the same amount - Whether the resubmitted refund claim dated 03.09.2013 should be considered time-barred, given its connection to the original refund application dated 30.05.2013? - exemption notification change effective from 01.04.2013 applies retroactively to the refund claim period ending on 30.09.2012 - violation of principles of natural justice. HELD THAT:- The non-issuance of SCN is a serious issue; the same is required to be issued when the Revenue does not propose to entertain the refund claim of the claimant. It s a different ma....... + More

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• 2025 (1) TMI 145
  Demand for service tax paid under a different registration number - barred by time limitation - short payment of service tax - short payment of Swachh Bharat Cess (SBC) - service tax on liquidated damages/penalties. Time limitation - Payment of service tax of Rs. 5,68,451/- for November, 2015 through challan mentioning Service Tax Registration of Regional Unit belonging to Appellant - Short payment of service tax of Rs. 42,188/- for the period from June 2015 to September 2015 - Short payment of Swacch Bharat Cess (SBC) of Rs. 22,344/- from November 2015 to March 2016 - HELD THAT:- It is also clearly apparent that those demands pertains to th....... + More

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• 2025 (1) TMI 144
  Service of order - sending of an order by speed post complies with the provision of section 37C(1)(a) of the Central Excise Act or not - Dismissal of appeal on the grounds of limitation holding that the appeal filed on 02.11.2017 is beyond permissible condonable time limit of one month hence cannot be condoned. Service of notice - HELD THAT:- In the present case the order was not dispatched by registered post. The order was sent by speed post and under the amended section 37C, there should be proof of delivery also. In the present case, admittedly, there is no proof of delivery since what has been stated by the Assistant Commissioner in his ....... + More

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• 2025 (1) TMI 143
  Liability of sub-contractor to pay service tax even if the main contractor has already discharged the service tax liability on the entire value of the contract - extended period of limitation - HELD THAT:- It is an admitted fact on record that the show cause notice dated 29.06.2012 had proposed for recovery of service tax from the appellant for the services provided during the period of 2007-08 to 2010-11 and for proposed effecting recovery, the proviso clause appended sub-section (1) of Section 73 ibid was invoked. Insofar as issuance of the show cause notice is concerned, the statute clearly mandates that the same should be issued within t....... + More

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• 2025 (1) TMI 142
  Refund claim for services availed by a Special Economic Zone (SEZ) unit, which were approved post-receipt but pre-filing of the refund claim - admissibility under N/N. 12/2013-ST. - HELD THAT:- The order of the Tribunal in the case of Kolland Developers Pvt. Ltd. [ 2016 (8) TMI 847 - CESTAT MUMBAI ] was challenged before the Hon ble High Court of Bombay [ 2021 (12) TMI 479 - BOMBAY HIGH COURT ]. The Hon ble High Court of Bombay in the case of Kolland Developers Pvt. Ltd. V/s Commissioner of C.EX. CUS. (Appeals), Nagpur have allowed the appeal of the assessee and set aside the order of the Tribunal and remanded the proceedings to the Tribunal....... + More

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• 2025 (1) TMI 141
  Levy of service tax - Valuation - activities of erection, commissioning, and installation of machines, which are part of a composite contract for the sale and supply of machines - HELD THAT:- As per the facts of the present case the respondent have manufactured and supplied the textile machines as per the contract and sale invoice was issued to the customers. The respondent-assessee is supposed to undertake the supply and also the erection, commissioning and installation of the machine at the customer s site. The sale value includes all the elements and there is no separate consideration received by the respondent on account of the service r....... + More

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• 2025 (1) TMI 79
  Rejection of the application under the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (SVLDRS) - grievance of the respondent before the learned Single Judge was that, it was ready and willing to pay the amount as notified by the appellants in Form No. 2 for availing the benefit of the SVLDR scheme. HELD THAT:- The learned Single Judge has in the impugned order given a finding that the impugned communication dated 30.01.2020 is contrary to the circular dated 12.12.2019 which is issued regarding the applicability and maintainability of the scheme. In fact, the learned counsel for the appellants would concede to the fact that, the circu....... + More

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• 2025 (1) TMI 78
  Quantification of education cess and secondary higher education cess - to be calculated on the gross service tax amount or the net service tax amount after deducting the R D cess exemption? - computation on best judgment basis - invocation of extended period of limitation - HELD THAT:- It is found that in the Appellant s own case for the subsequent period pertaining to financial year 2014-15 and 2015-16 involving the identical issue as involved in the present case, the Commissioner vide Order-in-Original No. 08/ST/COMMR/VMJ/RTK/2017-18 dated 29.12.2017 has allowed the benefit in favour of the Appellant and the department has accepted the sai....... + More

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• 2025 (1) TMI 77
  Liability of appellant to pay service tax - appellant is a car dealer collecting handling charges in their sale bill of selling of car to individual customer - HELD THAT:- In the facts of the present case there is no dispute that the handling charges is shown in the sale bill of the car and on the total elements that is sale price of the car, handling charges and other charges, the appellant have calculated the VAT at the rate of 12.5%+2.5% and the total bill value was collected from the customer of the car, Therefore the total bill value is a sale value of the car and the handling charges is part of the sale price on which the VAT has been ....... + More

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• 2025 (1) TMI 76
  Levy of service tax - Export of Services or not - services provided by the appellant to its group companies situated outside India - whether the foreign establishment who is the service recipient is the establishment of the appellant or it is separate? - HELD THAT:- The adjudicating authority has not properly understood that the appellant and the service recipient are whether separate entity referring to item b of explanation 3 of Clause 44 of Section 65B of the Finance Act, 1994, therefore the entire matter needs a reconsideration in the light of the judgments in the identical facts. The issue involved in the present case is squarely covere....... + More

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• 2025 (1) TMI 75
  Classification of service - Erection, Commissioning and Installation service or Commercial or Industrial Construction service - abatement claim rejected on the ground that the appellant has not included the value of free supply material in the taxable value - revenue neutrality. HELD THAT:- Iit is an admitted fact that the major portion of the demand is confirmed under the category of 'Commercial or Industrial Construction' Services. Further, lying of long-distance gas pipeline can only be considered as a 'Works Contract service'. Moreover, abatement was denied by the original authority on the ground that some of the goods ar....... + More

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• 2025 (1) TMI 74
  Classification of service - Online Information Data and Access Retrieval (OIDAR) Service or not - refund claims under Rule 5 of the CENVAT Credit Rules, 2004 - export of services or not - HELD THAT:- As per the agreement, foreign entity provides raw data to the Appellant in form of manuscripts, articles, photographs and other content required for carrying out the various activities by the Appellant such as copyediting, typesetting, formatting, proofreading, graphic designing, indexing, coding, etc. by using human skill and labour on such data and sends the same in electronic form through internet for access by foreign entity. In this whole p....... + More

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Case Laws - Central Excise

• 2025 (1) TMI 220
  CENVAT credit on capital goods initially brought into Plant No.1 and subsequently moved to Plant No.2 and Plant No.3 - HELD THAT:- It is noted that the contention of Revenue is that capital goods were brought into Plant No.1 which is also referred to as Unit No.1 and after availing cenvat credit, they were utilized into Plant No.2 and 3 which were also referred to as Unit No.2 and 3 and during the relevant time those units were not part of the Central Excise registered premises and, therefore, there was proposal for denying cenvat credit which was confirmed by the original authority. It is noted that through the communication dated 24.06.201....... + More

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• 2025 (1) TMI 219
  Classification of electrical machinery parts and accessories - to be classified under Chapter 86 or under Chapter 84? - extended period of limitation - penalty. Classification of electrical machinery parts and accessories - HELD THAT:- As these goods were manufactured as per the designs submitted by the Indian Railway, they have to be specifically treated as part of Diesel Locomotive and so more appropriately classifiable under Chapter 86 of Central Excise Tariff Act, 1985. Further, the Tribunal in the case of M/S. FAIVELEY TRANSPORT RAIL TECHNOLOGIES INDIA PVT. LTD. VERSUS COMMISSIONER OF GST CENTRAL EXCISE, SALEM [ 2024 (8) TMI 1143 - CEST....... + More

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• 2025 (1) TMI 140
  Clandestine removal - classification of same type of goods under headings 3197 when cleared/removed officially and under 8424 when cleared allegedly unofficially or clandestinely - impact of such classification under different headings - CESTAT did not address the clandestine removal of goods issue, but proceeded on the premise that such clandestine removal was irrelevant - HELD THAT:- The CESTAT s order warrants interference because the CESTAT has not discharged the duties and obligations expected of a first appellate Court in this case. The central and crucial issues were not considered. The findings of fact were not addressed. The CESTAT ....... + More

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• 2025 (1) TMI 139
  Tribunal can ignore inquiry/investigations conducted and statements recorded under Section 14 of the Central Excise Act, 1944 read with Section 193 and Section 228 of the Indian Penal Code or not - supplier of crude Menthol oil were found non-existence/fake during investigation - demand on account of assumption and presumption - fraud, wilful suppression/mis-declaration of the material facts - Benefit of N/N. 56/2002-CE dated 14.11.2002. HELD THAT:- The appellant was required to demonstrate and prove that during the relevant period, when the refund was claimed by the respondent, it had not procured any raw material, nor had it undertaken any....... + More

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• 2025 (1) TMI 138
  Recovery of CENVAT Credit with interest and penalties - manufacture of sugar and molasses - manufacture of dutiable and exempted goods - Appellant had availed and utilised Cenvat credit without maintenance of separate accounts - Whether the Appellant is liable to pay an amount equivalent to 5% / 6% on the value of Bagasse clearances in terms of Rule 6(3) of CENVAT Credit Rules, 2004? - HELD THAT:- The identical issues as involved in the present case, was also involved in the case of M/S. PONNI SUGARS (ERODE) LIMITED VERSUS COMMISSIONER OF CENTRAL EXCISE, SALEM [ 2023 (10) TMI 876 - CESTAT CHENNAI] wherein Chennai Bench of this Tribunal has a....... + More

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• 2025 (1) TMI 137
  CENVAT Credit - input service credit of the service tax paid on lease rentals and operation and maintenance charges of windmills - extended period of limitation - HELD THAT:- A perusal of the impugned order reveals that the Commissioner had observed from the above Agreement between the Appellant and M/s.ALWEL, the inputs which were used for operation and maintenance of windmills was used by M/s.ALWEL which is evident from the fact that the contract specified that the cost of operation and maintenance was to be borne by M/s.ALWEL. M/s.ALWEL was also responsible for the generation of electricity and they were in fact getting the windmills main....... + More

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• 2025 (1) TMI 136
  Refund of amounts deposited - amount paid voluntarity or is paid under protest - rejection on the ground of being barred by limitation as provided by Section 11B of the Central Excise Act, 1944 - applicability of principles of unjust enrichment - HELD THAT:- It is evident that the amounts have been deposited as per the direction of the departmental officers in respect of certain shortages detected at the time of visit. The amounts so deposited on the direction of the departmental officer cannot be said to be voluntary deposit. Further appellant have contested the demand and have finally succeeded in getting the same set aside by the tribunal....... + More

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• 2025 (1) TMI 67
  Seeking a declaration that the adjudication proceedings which have remained pending for almost 12 years be held to be vitiated in law - challenge to SCN - challenge to final order of adjudication - HELD THAT:- The respondents allude to the matter having been placed in the call book for many years and thereafter proceedings being delayed on account of repeated adjournments being sought by the petitioner. As was noticed in M/s Vos Technologies [ 2024 (12) TMI 624 - DELHI HIGH COURT ], nothing constrained or detracted from the right of the respondents to proceed ex parte in case the adjudication proceedings were being unjustifiably delayed and ....... + More

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• 2025 (1) TMI 66
  CENVAT Credit - inputs/capital goods - duty paid on tower materials, puff channels, shade parts thereof and pre-fabricated buildings materials - immovable property or not - tower would qualify as part or component or accessory of the capital goods i.e. antenna or not - towers, shelter are capital goods or inputs in terms of Rule 2(a) or 2(k) of the Cenvat Credit Rules, 2004 or not - invocation of extended period of limitation. HELD THAT:- Their Lordships of the Supreme Court, considering the said issue involved in M/S BHARTI AIRTEL LTD. VERSUS THE COMMISSIONER OF CENTRAL EXCISE, PUNE [ 2024 (11) TMI 1042 - SUPREME COURT] have held that '....... + More

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• 2025 (1) TMI 65
  Availment of CENVAT credit - revision in rate of service (escalation of price) - violation of Rule 4A (1) of the Service Tax Rules, 1994 read with Rule 9(1)(f) of the CENVAT Credit Rules, 2004 - denial of Cenvat credit on the ground that the additional invoices were issued by the service providers much after the period of 14 days of completion of service - HELD THAT:- The CENVAT Credit availed by the appellant on the basis of supplementary invoices were rejected by the Ld. adjudicating authority on the ground that the said invoices were not issued within 14 days from from the date of completion of service or receipt of payment, whichever is ....... + More

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• 2025 (1) TMI 64
  Mis-declaration of MRP and/or alteration of MRP post removal of the goods prior to 01.03.2008 - Clandestine removal. Mis-declaration of MRP and/or alteration of MRP post removal of the goods prior to 01.03.2008 - statements of various persons were recorded, cross examination not afforded - demand of differential Central Excise duty under the provisions of Section4A of Central Excise Act, 1944 - HELD THAT:- The issue has been decided by larger Bench of this Tribunal in the case of Ocean Ceramics Ltd. [ 2024 (1) TMI 1280 - CESTAT AHMEDABAD - LB] and subsequently on the answer given by the larger bench the division bench in the case of Ocean Ce....... + More

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• 2025 (1) TMI 63
  Recovery of Central Excise duty on the clearances of scrap and waste during the period from April 2008 to March 2013 - demand confirmed solely relying upon the verification report submitted by the range superintendent, against which the Cenvat credit has been taken by the appellant and an observation was made that they are normal entries - HELD THAT:- The report itself does not provide the details of all entries against which Cenvat credit has been taken. The impugned order also in these proceedings presumed that there is a dispute that the scrap which has been cleared would have arisen out of cenvated as well as non-cenvated items of iron a....... + More

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• 2025 (1) TMI 6
  Denial of Cenvat credit availed on the strength of invoices which are dated prior to amendment of Rule 4 vide Notification No. 21/2014-CE (NT) dated 11.07.2014 - As per amended rule, whether time limit of six months from the date of issue of the invoice for taking the credit, can be applied retrospectively to invoices issued before the amendment date - HELD THAT:- As per the facts of the present case though the appellant have availed the Cenvat credit belatedly in the month of August/September-2014, however, all the invoices related to such credit were issued before 11.07.2014. Therefore, in respect of those invoices, the amended Rule 4 vide....... + More

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• 2025 (1) TMI 5
  Reversal of Cenvat credit on inputs and input services used in the manufacture of exempted goods, specifically Di-Ammonium Phosphate (DAP), under Rule 6(3)(i) of the Cenvat Credit Rules, 2004 - by-product in the manufacturing process of copper products - exempt goods or not - HELD THAT:- Di-Ammonium Phosphate (DAP) is being manufactured by the appellant by using phosphoric acid and in-house manufacturing of the sulphuric has been obtained by processing sulphuric acid. It is an accepted fact that sulphuric acid is unintended product which emerges during the process of copper concentrate while manufacturing various types of copper products. Th....... + More

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• 2024 (12) TMI 1453
  Cenvat Credit of duty of inputs which were not used to manufacture a new excisable goods - correctness of disallowing the demand of the Department for Cenvat Credit duty wrongly availed of by the assessee Under Rule 14 of the Cenvat Credit Rules, 2004, on the ground that it is against the tenets of Equity and Justice - HELD THAT:- It appears that the process undertaken by the assessee was cutting/slitting of imported CRGO coils of width more than 600mm to the width of less than 600mm. It also emerges from the record that the petitioner has paid more excise duty while clearing the final products under Chapter Heading No. 7226 1100 than the am....... + More

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• 2024 (12) TMI 1452
  Option to forego unconditional exemption to final products by virtue of N/Ns. 6/2002 dated 1.3.2002 and 6/2003 dated 1.3.2003 at the relevant time and pay duty at the Tariff rate and claim for Modvat/Cenvat credit on inputs used in the manufacture of final products - demand of Cenvat credit in a situation where the assessee has paid the duty on the final products and utilized the credit on inputs for payment of final products - amendment provided in Section 5A by inserting sub-section 1A as is clarificatory nature or in prospective. Whether the appellant could have exercised option with regard to payment of duty or to avail the exemption Not....... + More

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• 2024 (12) TMI 1451
  Classification of goods - Siapton 10L and Isabion - classifiable as fertilizer under Central Excise Tariff Item No. 3101 00 99 of the first schedule of Central Excise Tariff Act, 1985 as declared by the appellant or Plant Growth Regulator falling under Central Excise Tariff Item No. 3808 93 40 as claimed by the Department? - HELD THAT:- Since the larger bench of this tribunal has finally decided the question in dispute in these appeals in [ 2024 (9) TMI 1655 - CESTAT AHMEDABAD (LB) ], these appeals can be disposed of in accordance with the decision given by the larger bench. It was held by Larger Bench that ' (i) A plant growth promoter ....... + More

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• 2024 (12) TMI 1450
  Levy of central excise duty - clinker used for captive consumption by availing exemption under N/N. 67/95-CE dated 16.3.1995 for manufacturing of cement that was cleared against International competitive bidding by claiming exemption under Sr No. 336 of N/N. 12/2012-CE dated 17.03.2012 - HELD THAT:- The identical issue in the appellant s own case has been decided by this Tribunal consistently in two decision of this Tribunal reported as Shree Digvijay Cement Co Ltd [ 2018 (11) TMI 300 - CESTAT AHMEDABAD] . The only difference is that the said decisions were given with reference to the exemption Notification No. 06/2006-CE dated 01.03.2006 Sr....... + More

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• 2024 (12) TMI 1449
  Benefit of SSI exemption under N/N. 8/2003 dated 01.03.2003 - exceeding the threshold turnover Rs. 400 lakhs in the preceding Financial Year - whether the appellant is eligible for the benefit of N/Ns. 89/95-CE dated 18.05.2005 in respect of other products viz., Acid oil, Fatty acid, Waxes and Gums, which are generated during the course of manufacture of refined oil and if they were held eligible, whether they are eligible for the benefit of SSI N/N. 8/2003-CE dated 01.03.2003 as amended? HELD THAT:- The issue of products viz., acid oil, fatty acid, gums and waxes, which are generated during the process of refining of crude edible oil to pro....... + More

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• 2024 (12) TMI 1448
  Interest on delayed refunds - to be calculated from the date of deposit or from the date of filing the refund application - applicable rate of interest on the delayed refund - HELD THAT:- In the present case impugned order clearly observes that the amount that was deposited by the appellant at the time of visit of officers to their premises was appropriated by the original authority while adjudicating the case of shortages against the appellant. The amount so appropriated acquired the character of duty, the moment it is appropriated against the demand made. In case of MAFATLAL INDUSTRIES LTD. VERSUS UNION OF INDIA [ 1996 (12) TMI 50 - SUPREM....... + More

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Case Laws - Vat / CST

• 2025 (1) TMI 218
  Whether the benefit of exemption under the provisions of the Tamil Nadu Value Added Tax (TNVAT) Act, 2006 would ennure for exemption under Section 8(2) of the Central Sales Tax (CST) Act, 1956? - HELD THAT:- Identical issue arose for consideration in NATESAN VERSUS THE STATE TAX OFFICER, ATTUR [ 2025 (1) TMI 135 - MADRAS HIGH COURT] where it was held that 'the petitioner is entitled to the benefit of exemption under Notification No.II(1)/CTR/30(a-2)/2007 (TNGG Extraordinary/March 23, 2007 [G.O.Ms.No.79, Commercial Taxes and Registration (B2) Department] dated 23.03.2007 with consequential relief.' Conclusion - The petitioner is entit....... + More

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• 2025 (1) TMI 217
  Demand of central sales tax on movement of goods from the manufacturing unit of the appellant situated in the State of Rajasthan to its depots in the State of Bihar and the State of Jharkhand - inter-state supply of goods or inter-state stock transfers - HELD THAT:- A perusal of the order dated 04.10.2017 passed by the Rajasthan Tax Board shows that it has reproduced the observations of the Rajasthan Tax Board in Appeal No s. 1229-1233 decided on 24.11.2014. It is the order passed in these five appeals that were assailed by M/S CARLSBERG INDIA PVT. LTD., M/S UNITED BREWERIES LTD. AND M/S MOUNT SHIVALIK INDUSTRIES LTD. VERSUS THE STATE OF RAJ....... + More

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• 2025 (1) TMI 135
  Entitlement to claim a concessional tax rate under the Central Sales Tax (CST) Act, 1956, without furnishing 'C' forms - It is submitted that in absence of specific notification issued under Section 8(5) of the CST Act, the petitioner cannot claim benefit of exemption under the above notification issued under the Tamil Nadu Value Added Tax (TNVAT) Act, 2006 for local clearance - HELD THAT:- As per Sub-Section (5) to Section 8 of the CST Act, the State Government has to issue a notification which should specify the conditions - In this case, no notification has been issued under Sub-Section (5) to Section 8 of the CST Act which has be....... + More

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• 2025 (1) TMI 134
  Recovery of arrears of sales tax - priority charge over the assets - Whether the Respondent No. 5 (The Deputy Commissioner of State Tax) will have priority charge over the secured assets sold by Petitioner bank (secured creditor) under the SARFAESI Act? HELD THAT:- The dicta of the Full Bench in Jalgaon Janta Sahakari Bank Ltd. [ 2022 (9) TMI 163 - BOMBAY HIGH COURT ] is squarely applicable to the present proceedings. In the ratio of the said judgment it has been held that even where there is an attachment order of the State Tax authorities prior to the secured assets attachment, without any further steps being taken towards issuing a procla....... + More

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• 2025 (1) TMI 62
  Recovery of Tax dues - Effect of CIRP Proceedings under IBC - Challenge to action of respondents, directing the respondent No. 2 to recover the outstanding amount from its Bank account - non-payment of the entry tax for the goods purchased by the petitioner from outside the State of Rajasthan - HELD THAT:- As per Sections 31 and 238 of the IBC, the approved Resolution Plan has been made binding on the Corporate Debtors - McNally Bharat Engineering Company Ltd., its employees, members, creditors, guarantors including the Central Government, any State Government or any local authority and other stakeholders involved in the Resolution Plan, to ....... + More

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• 2025 (1) TMI 61
  Jurisdiction of Additional Commissioner to pass an order u/s 64 of the Karnataka Value Added Tax Act, 2003 after the expiry of more than 4 years since the passing of the original order - HELD THAT:- In the instant case, the order sought to be revised was passed on 31.07.2017. The records were called for under letter dated 13.07.2021 which was dispatched on 14.07.2021 and records were received by the Additional Commissioner on 22.07.2021 and notice under Section 64 (1) of KVAT Act was issued to the appellant on 28.07.2021. If the proceedings is initiated within 4 years from the date of order sought to be revised, the date of serving notice on....... + More

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• 2025 (1) TMI 4
  Authority and jurisdiction of respondent to issue show cause notices after entering into a One Time Settlement (OTS) with the petitioner - no allegation of any fraud being committed by the petitioner - HELD THAT:- The fact remains that very purpose of bringing such OTS scheme is to encourage the tax payers to settle their disputes. Interestingly, in the OTS scheme issued by the Government of Telangana, the entire exercise of determination of tax/penalty amount was in the hands of the respondents and for that purpose, a committee consisting of senior officers was constituted. After having undertaken the entire exercise of determination of amo....... + More

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• 2024 (12) TMI 1447
  Refusal of doctrine of mutuality on the ground that majority of the members of the different categories other than the permanent members were persons with no voting right or any right to participate in the affairs of the management of the club - HELD THAT:- The order of the Tribunal confirming the assessment made and the law on the point, as prima facie occurs, it is opined that the following questions of law arise: - (i) Whether the Tribunal was correct in having declined the application of doctrine of mutuality on the transactions entered into by the appellant? (ii) Whether the appreciation of facts by the Tribunal was correct and was it n....... + More

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• 2024 (12) TMI 1295
  Challenge to order of penalty passed under the APVAT Act, 2005 - without issuing a SCN the order of penalty came to be passed - violation of principles of natural justice - HELD THAT:- It is failed to understand the basis for the revenue to challenge such orders before this Court. It has been fairly conceded before us that the order of penalty was passed without issuing any show cause notice. What is more disturbing is that instead of accepting the order passed by the High Court and issuing a show cause notice so as to give an opportunity to the assessee to show cause as regards the penalty, the revenue has wasted six years in this litigatio....... + More

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• 2024 (12) TMI 1294
  Challenge to order of re-assessment passed by Respondent No. 1 u/s 39 (1) of the Karnataka Value Added Tax Act, 2003 on the ground of being barred by time limitation - case of appellant is that Section 40 of the Act of 2003 provided for a period of limitation for passing an order of assessment or re-assessment - whether the learned Single Judge is justified to hold that the limitation for the purpose of re-assessment would start running from the date of passing of the order by the Commissioner under Section 64 (2) of the Act of 2003? HELD THAT:- There is no dispute that, we are concerned with the tax period between April 2007 to September 20....... + More

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• 2024 (12) TMI 1293
  Entitlement to recall or set aside an assessment order issued under the Kerala Value Added Tax Act, 2003 based on a subsequent order issued due to a mistake - benefit of an Amnesty Scheme - HELD THAT:- The petitioner is not entitled to any relief in the present writ petition. It is not disputed before that Ext. P2 order, which is issued under Section 25 (1) of the KVAT Act on 15.12.2018, has not been set aside or modified in any proceedings. If that be the case, the provisions of Section 25 (1) of the KVAT Act does not permit the Assessing Authority to pass a fresh order for the same assessment year. If such course of action is permitted, it....... + More

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• 2024 (12) TMI 1234
  Sale u/s 2 (g) (iv) CST Act or not - transfer of right to use - hiring of helicopters - transfer of effective control and possession and right to use the helicopters to its customer - Deemed Sale or not - HELD THAT:- On a consideration of the contractual stipulations, it becomes apparent that while the appellant was obliged to place a helicopter or an equivalent model at the service of the A N Administration, the right to operate and maintain remained with the appellant. The helicopter was to be maintained, flown and operated by the appellant. The appellant was required to ensure that the requirements of the A N Administration were duly met........ + More

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• 2024 (12) TMI 1233
  Levy of central sales tax on movement of goods from the manufacturing unit of the appellant situated in the State of Rajasthan to its depots in the State of Bihar and the State of Jharkhand - inter-state supply of goods or inter-state stock transfers? - HELD THAT:- A perusal of the facts of these four appeals and the facts of the fourteen appeals decided by the Tribunal on 21.10.2024 [ 2024 (10) TMI 1124 - CESTAT NEW DELHI] clearly show that they are similar. The Liquor Sourcing Policy framed by the State of Bihar and the Liquor Policy framed by the State of Jharkhand which came up for consideration in the decided appeals has also come up fo....... + More

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• 2024 (12) TMI 1188
  Challenge to attachment of bank and Demat accounts and the demand notice for recovery under the Maharashtra Land Revenue Code (MLRC) - opportunity of hearing was not provided - violation of principles of natural justice - HELD THAT:- It does appear that the impugned attachment orders and notices have been issued without disposal of the show-cause notices. The attachment orders do not refer to any final adjudication orders. These notices threaten the petitioners with serious civil consequences. Therefore, before taking such drastic action, the principles of natural justice and fair play had to be complied with. The impugned attachment notices....... + More

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• 2024 (12) TMI 1187
  Rate of tax - inter-state sales of safety equipment without the C form - requirement to pay tax at the rate of 4% as per the entry 34 schedule (4) - HELD THAT:- On perusal of the record, it shows that the petitioner had paid tax in accordance with the schedule of the Act from the beginning and has never claimed any exemption through C forms. Therefore, the question of submitting the C forms for the goods in dispute does not arise. The authorities below and also the Appellate Tribunal, did not consider the petitioner s case in its the proper prospective. On perusal of the orders passed by the authorities and as well as the Tribunal, it is suc....... + More

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• 2024 (12) TMI 1130
  Taxability - supply of PSC sleepers would amount to execution of a works contract or not - HELD THAT:- In K. Raheja Development Corporation vs. State of Karnataka [ 2005 (5) TMI 7 - SUPREME COURT] , the Hon ble Supreme Court was considering the taxability of a development agreement between land owners who had offered the land for construction of a multi-storied apartments and Commercial Complexes and the developer who took up construction, under this agreement. The Hon ble Supreme Court after considering the definition of works contract , contained in the Karnataka Sales Tax Act, which is in pari materia with the definition contained in APGS....... + More

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• 2024 (12) TMI 1017
  Time limitation - dismissal of application filed by the writ petitioner for condonation of delay of 655 days in filing appeal before the Tribunal - HELD THAT:- Considering the fact that the assessment is high-pitched assessment and the assessment was ex-parte since the petitioner did not appear and also taking note of the fact that though the final assessment order was passed on 27th February, 2018, till date, the same has remained a paper order and the Government has not been able to recover any tax, one more opportunity can be granted to the writ petitioner to pursue their appeal before the Senior Joint Commissioner, Commercial Taxes, Ball....... + More

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• 2024 (12) TMI 939
  Realization of arrears of tax payable under the KGST Act - Validity of property transfer under the Income Tax Act, 1961, and the Kerala General Sales Tax Act, 1963 - void transfers or not - Impact of Section 281 of the Income Tax Act on property transfers - HELD THAT:- By virtue of the non-obstante clause, excludes the operation of any other law in force and creates a first charge on the property of the dealer. Therefore, with respect to the year 1995 onwards, there was a first charge with reference to the tax payable under the KGST Act. It is to be noticed that there is no corresponding provision creating the first charge under the I.T. Act....... + More

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• 2024 (12) TMI 938
  Levy of penalty under Section 10(d) of the CST Act - Entitlement of reduced rates of tax on sales in the course of inter state trade is available by virtue of Section 8(1) read with Section 8(3)(b) of the CST Act - existence of mens rea or not - whether the imposition of penalty, is an act which is automatic upon there being a default of the conditions, enabling the levy of penalty as specified under Section 10 or whether it is incumbent upon the Department to establish a case for imposition of levy and the assessee can escape the levy of penalty by discharging the responsibilities/conditions, specified in Section 10 (d)? - HELD THAT:- It is....... + More

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• 2024 (12) TMI 937
  Challenge to orders of the Tamil Nadu Sales Tax Appellate Tribunal, Chennai - second sale exemption on purchase of gingelly seeds - registered dealer or not - HELD THAT:- As per Section 10 of the TNGST Act, the burden of proof for proving any transaction that the dealer is not liable to tax shall lie on the dealer. As such, the burden was always on the dealer to prove the point of first sale. In the instant case, the assessee had not discharged the burden of proof under Section 10 of the TNGST Act by proving the first sale. Further the finding of fact has been arrived at consistently by the authorities that the bills purchased from M/s.Sri V....... + More

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Case Laws - Indian Laws

• 2025 (1) TMI 216
  Dishonour of Cheque - acquittal of offence under Section 138 of the Negotiable Instruments Act, 1881 - rebuttal of presumptions raised u/s 139 and 118 of the NI Act - HELD THAT:- It is trite law that a Court while considering the challenge to an order of acquittal ought to only interfere if the Court finds that the appreciation of evidence is perverse. The present case, however, relates to acquittal of an accused in a complaint under Section 138 of the NI Act. The restriction on the power of Appellate Court in regard to other offence does not apply with same vigor in the offence under NI Act which entails presumption against the accused. The....... + More

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• 2025 (1) TMI 133
  Acceptance of an illegal gratification from the original complainant - whether CBI had power to register the FIRs and investigate offences qua respondent No.1 in the appeals? - whether the FIR for offences under the PC Act could be registered in Hyderabad in the State of Telangana when the offences alleged to have been committed at places within the State of Andhra Pradesh and for that reason whether the CBI Court in the State of Telangana got jurisdiction to try the offence under the PC Act in respect of offences allegedly committed at places falling within the State of Andhra Pradesh? HELD THAT:- The term law was defined in para 2(f) of th....... + More

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• 2025 (1) TMI 132
  Dishonour of Cheque - cognizance of offences - whether the complaint filed by the appellant herein under Section 138 of the NI Act is in accordance with the requirement under Section 142 of the NI Act? - Power of attorney holder - HELD THAT:- A perusal of the complaint (Annexure P-18) would reveal that Complaint No. 701 of 2021 has been filed in the name of M/s Naresh Potteries through Neeraj Kumar (Manager and Authority-letter holder). Further, a perusal of the cheque which is the subject-matter of the complaint would reveal that it has been issued in the name of Naresh Potteries. As aforementioned, Section 142 of the NI Act contemplates th....... + More

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• 2025 (1) TMI 131
  Dishonour of Cheque - violation of cardinal ingredient of Section 138 (b) of the NI Act - discharge of burden to prove - presumption under Sections 139 and 118 of the NI Act - non-production of bank statement / IT return by the complainant would vitiate the complaint itself. Whether the complainant violated the cardinal principle laid down under Section 138(b) of the Negotiable Instruments Act? - HELD THAT:- In Suman Sethi case [ 2000 (2) TMI 822 - SUPREME COURT] the Hon ble Supreme Court held ' If in a notice while giving the break up of the claim the cheque amount, interest, damages etc. are separately specified, other such claims for ....... + More

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• 2025 (1) TMI 130
  Dishonour of Cheque - conviction of the petitioner-accused under Section 138 of the Negotiable Instruments Act, 1881 - compounding of offences - compromise arrived between the parties - HELD THAT:- Having taken note of the fact that the petitioneraccused and the complainant-respondent have settled the matter and the complainant has no objection in compounding the offence, therefore, this Court sees no impediment in accepting the prayer made on behalf of the accusedpetitioner for compounding of offence while exercising power under Section 147 of the Act as well as in terms of guidelines issued by the Hon ble Apex Court in Damodar S. Prabhu V........ + More

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• 2025 (1) TMI 129
  Dishonour of Cheque - Hindu Undivided Family (HUF) can be considered an association of individuals under Section 141 of the NI Act - Applicant is actively participating into the affairs of the Accused No. 1. or not - vicarious liability of members of HUF - HELD THAT:- The discussion of the Supreme Court in the said Ramanlal Patel [ 2008 (2) TMI 859 - SUPREME COURT ] is with reference to the definition of joint family and person as defined under the Gujarat Ceiling Act. The said discussion will not apply to the explanation of the term Company as given in Section 141 of the NI Act - the Supreme Court was considering the scope of Section 3 of t....... + More

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• 2025 (1) TMI 60
  Condonation of delay of 5 years, 10 months, and 16 days in filing the appeal by the appellant/State - The court dismissed the application for condonation of delay, finding that the appellant failed to provide a satisfactory explanation for the extensive delay. HELD THAT:- This Special Leave Petition is dismissed with costs of Rs.1,00,000/- to be deposited by the State within a period of two weeks from today with the Supreme Court Mediation Centre and file proof thereof, in terms of the signed Reportable Order.

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• 2025 (1) TMI 59
  Suit for Recovery - Direction to deposit 75% of the decretal amount during the pendency of the present Appeals - separate pre-institution mediation was not initiated for the Counter-Claim - HELD THAT:- The Commercial Courts (Pre-Institution Mediation and Settlement) Rules, 2018 [hereinafter referred to as Pre-Institution Mediation Rules ] provides that a party to a commercial dispute is required to initiate mediation prior to the filing of a suit. Sub-rule (8) of Rule 3 of Pre-Institution Mediation Rules provides that the mediation process should be completed within a period of three months - A commercial dispute is defined as a dispute refe....... + More

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• 2025 (1) TMI 58
  Dishonour of cheque - Company has not been impleaded, as accused, in this case - whether the proceedings cannot be initiated and allowed to be continued against the company? HELD THAT:- Admittedly, the said Company has neither been impleaded, as, accused in the complaint, under Section 138 of the NI Act, nor in the legal notice issued against the Company, before filing the complaint. Even otherwise, the Company cannot now be impleaded as accused, in this case, as before filing the complaint under Section 138 NI Act, certain legal formalities have to be completed by the complainant, i.e., issuance of legal notice, demanding the money, within ....... + More

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• 2025 (1) TMI 57
  Dishonour of cheque - competence of power of attorney holder to file a complaint under Section 138 of the Negotiable Instruments Act, 1881, without any averment in the complaint about the power of attorney holder's knowledge of the facts of the case - HELD THAT:- It needs to be borne in mind that a power of attorney holder is a competent person to file a complaint under section 138 of the NI Act. The aforesaid proposition has already been settled by various judgments. A Magistrate is entitled to issue process to the accused on the basis of the contents of the complaint, documents in support thereof and the affidavit submitted in support ....... + More

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• 2025 (1) TMI 56
  Maintainability of complaint under Section 138 of the Negotiable Instruments Act, 1881, filed against the petitioner - High Court can exercise its inherent powers under Section 482 of the Criminal Procedure Code to quash the complaint and subsequent proceedings or not - HELD THAT:- It is no longer res integra, that this Court, while exercising the powers under Section 482 of Cr.P.C. cannot assume the role of trial Court and the defence, if any, of the accused cannot be taken into consideration, at this stage, as it is for the accused to prove his defence by leading the cogent evidence before the trial Court. Scope of Section 482 Cr.P.C., has....... + More

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• 2025 (1) TMI 3
  Locus of Respondent organization to approach the National Commission - jurisdiction of National Consumer Disputes Redressal Commission to interfere with banking operations, which is the exclusive statutory domain of the Reserve Bank of India - jurisdiction to fix a maximum ceiling rate of interest to be charged by banks from their credit card holders for their failure to make full payment on the due date - interference with the contract executed between the parties or not - charging rate of interests by banks in the manner as advised by Reserve Bank of India vide its master circulars notifications being independent of a standard ceiling rate....... + More

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• 2025 (1) TMI 2
  Seeking quashing of Criminal Complaint - Dishonour of Cheque - continuation of legal proceedings commenced by the company in its former name by its new name - inherent jurisdiction under Section 482 of the CrPC for quashing the proceedings. Continuation of legal proceedings commenced by the company in its former name by its new name - HELD THAT:- It is relevant to note that the inherent jurisdiction of the Court under Section 482 of the CrPC ought to be exercised sparingly especially when the matter is at the stage of issuance of summons as the same has the effect of scuttling the proceedings without the parties having an opportunity to addu....... + More

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• 2025 (1) TMI 1
  Dishonour of Cheque - compounding of offence after the judgment of conviction and order of sentence have been passed - petitioner compromised the matter with the respondent (complainant) - HELD THAT:- Having taken note of the fact that the petitioner - accused and the complainant-respondent have settled the matter and the complainant has no objection in compounding the offence, therefore, this Court sees no impediment in accepting the prayer made on behalf of the accusedpetitioner for compounding of offence while exercising power under Section 147 of the Act as well as in terms of guidelines issued by the Hon ble Apex Court in Damodar S. Pra....... + More

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• 2024 (12) TMI 1446
  Dishonour of Cheque - mandatory presumption as provided under Section 139 of the Negotiable Instruments Act drawn in favour of the complainant - whether the accused has succeeded in rebutting the presumption drawn in favour of the complainant? - HELD THAT:- A presumption is an inference to the existence of a fact not actually known arising from its connection with another which is known. A presumption is a conclusion drawn from the proof of facts or circumstances and stands as establishing facts until overcome by contrary proof. Analysing the terms proved and disproved as provided in Section 3 of the Evidence Act, a court shall presume a Neg....... + More

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• 2024 (12) TMI 1445
  Seeking appointment of a sole Arbitrator for resolution of its claims qua non-applicant Company - resistance for appointment of an Arbitrator in respect of the claim put forth by applicant-Company, has been made fundamentally in view of certain subsequent events, transpired after filing of the instant arbitration application - Time limitation. Seeking appointment of a sole Arbitrator for resolution of its claims qua non-applicant Company - HELD THAT:- This Court finds that as far as execution of purchase agreement dated 28.07.2014, whereunder the copper was agreed to be supplied by non-applicant-Company to the applicant-company and supply of....... + More

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• 2024 (12) TMI 1356
  Grant of renewal of license L-10BB on account of the fact that premises, wherein business was being run in previous years in terms of form L-10BB stands upgraded to principal place of business - HELD THAT:- It is not in dispute that after the orders passed by this Court, the writ petitioner has in fact shifted his premises and had sought a licence, which was rejected by the appellant-department. Essentially, in the impugned order dated 16.4.2024, there is no mention as to in which premises, the business is being run by the writ petitioner, that was described and was the subject matter of the writ petition. The appeal is dismissed as having been rendered infructuous.

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• 2024 (12) TMI 1292
  Dishonour of Cheque - vicarious liability of petitioner, as an additional director - petitioner was neither the signatory of the cheques in question nor the managing direction of the respondent no. 3 company - Section 141 of the NI Act, 1881 - HELD THAT:- In the case of State of Haryana v. Bhajan Lal [ 1990 (11) TMI 386 - SUPREME COURT ], the Hon ble Supreme Court had set out the broad categories of cases in which the inherent powers under Section 482 of the Cr.P.C. could be exercised - From the judgment, it is clear that the Court may quash a complaint under Section 482 of the CrPC if it is satisfied that the allegations made against the ac....... + More

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• 2024 (12) TMI 1291
  Dishonour of Cheque - vicarious liability - petitioner's involvement in the company's affairs or not - whether this Court can exercise inherent powers under Section 482 of the Code (Section 528 of the BNSS) for quashing of the complaint bearing no. 7369/2022 and summoning order dated 6th January, 2020? - HELD THAT:- It is pertinent to understand the contention of the petitioner that the said complaint and the summoning order are liable to be quashed as the petitioner is not involved in the day-to-day affairs of the company and was unaware of the cheques issued to the complainant, hence, the offences under Section 138 and 141 of the N....... + More

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• 2024 (12) TMI 1232
  Interpretation of Section 52A of the Narcotic Drugs and Psychotropic Substances Act, 1985 - mis-interpretation of the provision without recording the findings as mandated in Section 37 of the said Act - HELD THAT:- Section 52A was inserted only for the purpose of early disposal of the seized contraband drugs and substances, considering the hazardous nature, vulnerability to theft, constraint of proper storage space etc. There cannot be any two opinions on the issue about the early disposal of the contraband drugs and substances, more particularly when it was inserted to implement the provisions of International Convention on the Narcotics Dr....... + More

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