Customs Broker's Failure To Oversee Warehousing Of Re-Export Goods Leading To Sale In Local Market Is 'A Clear Infraction': Delhi HC

The Delhi High Court has held that a Customs Broker must diligently perform its responsibilities under the 2018 Licensing Regulations however, any failure thereof must be met with a proportionate punishment.While dealing with a case where the broker's license was suspended due to alleged failure to oversee warehousing of goods meant for re-export, leading to their sale in the domestic market,...

No Refund Of Unutilised ITC On Closure Of Business U/S 54 CGST Act, Must Be Reversed U/S 29(5): Sikkim High Court

The Sikkim High Court stated that no refund of unutilised ITC (Input Tax Credit) on closure of business under section 54 CGST Act (Central Goods and Services Tax), must be reversed under section 29(5). Section 54 of the CGST Act, 2017 deals with refund of tax, intertest, or any other amount paid under GST. The refund can be claimed in case of excess tax payment, zero-rated...

Delhi High Court Orders Customs To Release Padma Bhushan Awardee's Imported Artwork Amidst Dispute Over Valuation

The Delhi High Court has ordered the Customs Department to release the artwork of Padma Bhushan awardee Late BC Sanyal, seized amid a dispute surrounding its valuation.A division bench of Justices Prathiba M. Singh and Shail Jain observed there is no conclusive proof that the artwork was made in Pakistan, as claimed by the Department.“The bill of entry itself reveals that the import is...

[CGST Act] Absence Of Document Identification Number Doesn't Render Assessment Orders Void: Andhra Pradesh High Court

The Andhra Pradesh High Court held that absence of document identification number doesn't render assessment orders void.The bench consists of Justices R Raghunandan Rao and Sumathi Jagadam were addressing the issue where the assessee/petitioner has challenged the assessment orders passed against him. The main ground for challenge is the lack of a Document Identification Number on the...

Counterclaim In Arbitration Cannot Be Allowed After Commencement Of Claimant's Evidence: Calcutta High Court

The Calcutta High Court bench of Justice Hiranmay Bhattacharyya has held that a counterclaim in arbitration proceedings cannot be allowed after the commencement of the claimant's evidence, as doing so would cause serious injustice to the other party. The present petition has been filed under Article 227 of the Indian Constitution against an order passed by Arbitrator by which...

Independent Panel Of Arbitrators Not Curated By Either Party Cannot Be Challenged On Grounds Of Impartiality: Delhi High Court

The Delhi High Court bench of Justice Jasmeet Singh has held that when the panel of arbitrators from which appointments are to be made is broad-based, comprising retired Supreme Court Judges and other eminent officials, and is independent, not controlled by any party, the other party cannot refuse to abide by the institutional rules it has consciously agreed to, on the ground that the...

Writ Petition Can Be Converted To Appeal U/S 37 Of Arbitration Act If It Does Not Prejudice Respondents: Allahabad High Court

The Allahabad High Court Bench of Justice Manish Kumar Nigam allowed the conversion of a writ petition under Article 227, Constitution of India (“COI”) into an appeal under Section 37, Arbitration and Conciliation Act (“ACA”) noting that where a particular kind of proceeding is not maintainable and a different kind of proceeding lies in respect thereof before the Court, the Court...

TDS Default | Higher Compounding Fees On Second Plea Not Applicable If First Application Was Rejected: Delhi High Court

The Delhi High Court has held that the higher rate of 5% interest to be paid when an assessee moves second plea for compounding the offence of failure to pay Tax Deductible at Source (TDS), is not applicable if their first plea was simply rejected.A division bench of Justices V. Kameswar Rao and Vinod Kumar observed,“5% is only chargeable when the earlier offence has been compounded. This...

Passenger's Non-Appearance For Appraising Seized Goods Doesn't Stop Limitation For Issuing SCN: Delhi High Court Tells Customs

The Delhi High Court has made it clear that the Customs Department cannot exceed the limitation period prescribed for issuance of show cause notice after detention of goods, merely on the ground that the person from whom goods were seized did not appear for appraisement.A division bench of Justices Prathiba M. Singh and Shail Jain observed,“non-appearance for appraisement does not stop...

AO Can Determine Annual Value Of Property Higher Than Municipal Rateable Value U/S 22 Income Tax Act: Bombay High Court

The Bombay High Court stated that the assessing officer (AO) can determine the annual value of the property higher than the municipal rateable value under Section 22 of the Income Tax Act. Section 22 of the Income Tax Act, 1961 deals with the "taxability of 'Income from House Property”. It says the annual value of property consisting of any buildings or lands appurtenant thereto...

State Gains Revenue Only If Businesses Operate; Cancelling GST Registration On Procedural Grounds Serve No Purpose: Calcutta High Court

The Calcutta High Court stated that the state gains revenue only if business operates; GST registration cancellation on procedural grounds serves no purpose. Justice Aniruddha Roy stated that the cancellation of GST registration of the assessee on the procedural ground would not enure any benefit either to the revenue authority or to the assessee. On the contrary, if the GST...

Absence Of Disciplinary Proceedings Bars NCLT From Rejecting Proposed IRP Under IBC: Madras High Court

The Division Bench of Madras High Court, comprising Justice Dr. Anita Sumanth and Mr. Justice N. Senthilkumar, has held that in the absence of disciplinary proceedings pending against the professional, NCLT is bound to appoint the IRP proposed by the applicant under sections 7 and 10 of the IBC, 2016. Background of the Case The petition under Article 226 was filed to quash...