Corporate
Customs Cannot Take Independent View Against CESTAT Classification; Wheat Gluten Eligible For DFIA Exemption: Madras High Court
The Madras High Court has held that once CESTAT has classified wheat gluten as eligible for DFIA (Duty-Free Import Authorisation) exemption, Customs authorities are bound by those findings and cannot independently deny the exemption benefits. Justice N. Anand Venkatesh stated that the impugned orders have been passed only on the ground that Wheat Gluten is not covered under...
'Sum' U/S 31(7)(b) A&C Act Excludes Pendente Lite Interest Unless Expressly Included: Delhi High Court In Award Execution Plea Against BSNL
The Delhi High Court held that if pre-award or pendente lite interest is not added to the principal amount in an arbitral award or on appeal, then post-award interest under Section 31(7)(b) cannot be charged on it.Justice Amit Bansal dismissed the decree-holder's contention that the Supreme Court's use of the phrase 'statutory interest' entitled it to post-award interest on both principal...
Delhi High Court Restrains Firozabad Firm From Manufacturing Look-Alike Nutella Jars, Imposes ₹10 Lakh Costs
The Delhi High Court has permanently restrained Firozabad-based glass manufacturers from making and selling empty glass jars found to be deceptively similar to the registered Nutella jar shape used by Ferrero Spa, the maker of Nutella spreads. The court also directed the manufacturers to hand over 3.05 lakh seized jars to Ferrero and pay Rs 10 lakh towards legal costs. A single bench of...
Madras High Court Revives Sreedevi Video's Dispute With Saregama Over Rights To Tamil, Telegu Film Music
The Madras High Court has revived a copyright dispute over the audio rights to iconic Telegu and Tamil films including Sagara Sangamam, Salangai Oli, Shankarabharanam and Sitara, holding that Sreedevi Video Corporation's claim seeking a permanent injunction against Saregama India Ltd must be examined on merits even though its request for a declaration of ownership is time-barred. On...
Bombay High Court Sets Aside ₹27 Crore Deposit Condition For Former Stock Broker Ketan Parekh To Travel Abroad
The Bombay High Court has recently quashed an order directing former stockbroker Ketan Parekh, who is facing prosecution arising from alleged large-scale manipulation of the securities market in the late 1990s and early 2000s, to deposit Rs 27.06 crore as a condition for travelling abroad. A single bench of Justice N J Jamadar held that the Special Court's direction lacked a reasonable...
Income Tax Act | ITAT Delhi Grants Relief In S.10(10D) Dispute; AO Directed To Reassess ULIP Maturity Proceeds Treated as Unexplained Investment
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has remitted back the addition of capital gains deduction to the Assessing Officer (AO) for fresh adjudication in absence of a remand report despite repeated reminders.The Bench, comprising Mr. Mahavir Singh (Vice President) on the claim of assessee that income was an exempt income for being a sum received under life insurance policy...
NCLT Defers Order On Riju Ravindran's Plea Against Glas Trust's Aakash Rights Issue Funding Plan; Subscription Closes Today
The National Company Law Tribunal at Bengaluru on Friday deferred its order on former Byju's promoter Riju Ravindran's interim plea challenging the Committee of Creditors' approval of a Compulsorily Convertible Debenture structure proposed by Glas Trust to fund Think and Learn Private Limited's (Byju's) participation in Aakash Educational Services Limited's ongoing rights issue. A coram...
Delhi High Court Grants Relief to Anantara Hotel Chain, Bars 'Club Anantara' From Using Its Mark
The Delhi High Court has recently restrained Club Anantara Suites and Retreat from using the marks “Anantara”, “Club Anantara” and related domain names after finding them deceptively similar to the trademarks of the luxury ANANTARA hotel chain. The ad-interim injunction, granted in favour of MHG IP Holding Singapore Pte Ltd., the entity that owns and manages intellectual property for...
IBBI Issues Fresh Guidelines For Appointment of Insolvency Professionals
In order to reduce administrative delays in appointing of Resolution Professionals, the Insolvency and Bankruptcy Board of India (IBBI) on Friday issued fresh guidelines to streamline how insolvency professionals (IPs) are shortlisted and appointed across tribunals from January 1, 2026. Under the new framework, only IPs with a clean record and a valid Authorisation for Assignment through...
Customs Act | 'Goods Already Re-Exported Cannot Be Confiscated': CESTAT Mumbai Sets Aside Absolute Confiscation Order
The Customs, Excise & Service Tax Appellate Tribunal (CESTAT) Mumbai has set aside the absolute confiscation of imported goods ordered by the Commissioner (Appeals), holding that once the goods had already been re-exported prior to the filing of the Revenue appeal, the order for absolute confiscation of goods is not sustainable in law. The Bench of Member (Judicial) Ajay...
Assessee Ineligible For Excise Duty Refund On Ambulances, Neither Manufacturer Nor Buyer U/S 11B(2)(e) Central Excise Act: CESTAT
The Chandigarh Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has stated that the assessee is ineligible for excise duty refund on ambulances, as it is neither a manufacturer nor a buyer under Section 11B(2)(e) Central Excise Act. The bench further noted that the assessee was merely operating the ambulances under a government agreement, which does not make him...
GSTN Issues Advisory On How To Add Valid Bank Account Details On GST Portal
The Goods and Services Network (GSTN) has issued advisory on furnishing bank account details to avoid suspension of their GST Registration and disruption of business activities. As changes with respect to Rule 10A will be implemented on the GST Portal soon, GSTN clarified that taxpayers who have not yet furnished the bank account details till date to do so at the earliest. As per Rule...