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Bombay High Court Considers Bank's Claim for Recovery of Dues from Export Company and its Director. Dispute Centers on Alleged Agreement to Debit Cash Credit Account Upon Dishonour of Foreign Bills Purchased Under FBP Facility.

The suit was filed by Bank of India to recover Rs.5,67,332.51 with interest at 19.5% per annum from B.C. Mody Exports P. Ltd. (defendant no.1) and its...

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Bombay High Court Allows Writ Petition Challenging Rejection of Export Obligation Discharge for Supplies to SEZ Without Bill of Export. Policy Circular Relaxing Requirement for Supplies Prior to July 1, 2017 Applied; Balance Supplies Remanded for Fresh Consideration.

The petitioner, Phoenix Industries Limited, engaged in manufacturing and export of non-ferrous metal alloys, obtained an Advance Authorisation (AA) fo...

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Bombay High Court Allows Writ Petition Challenging Rejection of ARE-1 Forms as Proof of Export Under Advance Authorisation Scheme. Court Holds That ARE-1 Forms Are Valid Proof of Export Under Paragraph 4.25 of Handbook of Procedures 2009-14 and Quashes Show Cause Notice.

The petitioner, Larsen & Toubro Limited, a company incorporated under the Indian Companies Act, 1913, challenged a Letter dated 1-12-2016 and a Show C...

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Madras High Court Examines Whether Settlement Commission Erred in Not Considering Export Performance During Extended Period in EPCG Duty Case. Appellant Sought Recalculation of Customs Duty Based on 30% Export Obligation Achieved, Arguing That One-Year Extension Was Not Properly Accounted.

The appellant, M/s. Asianet Satellite Communication Limited, a service provider in television network, imported cable TV equipment valued at Rs.6,14,3...

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High Court of Judicature at Bombay Hears Customs Appeals on Domestic Clearance of Duty-Free Input Products Under Advance Authorizations. Core Issue Whether Tribunal Correctly Interpreted Foreign Trade Policy 2004-2009 Paras 4.1.3 and 4.1.5 to Permit Domestic Sales Before Export Obligation Fulfillment.

The High Court of Judicature at Bombay heard a batch of 17 customs appeals filed by various companies and individuals against three Commissioners of C...

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High Court Allows Appeal in Income Tax Case: Sales to Other STP Units Qualify as Deemed Export Under Section 10A of Income Tax Act, 1961. The court held that software development services provided to another STP unit, which ultimately exports the software, constitute export for deduction purposes.

The assessee, M/s. Tata Elxsi Limited, a registered Software Technology Park (STP) unit, claimed deduction under Section 10A of the Income Tax Act, 19...