NEWS

18 January 2023

Computers – All in one integrated desktop computer is not portable – Classifiable under TI 8471 50 00

The Supreme Court has on 17 January 2023 held that Automatic Data Processing Machines (‘ADP’) which are popularly known as ‘All-­in-­One Integrated Desktop Computer’ are to be classified under Tariff Item 8471 50 00 of the Customs Tariff Act, 1975 and not under Tariff Item 8471 30 10 ibid.

Recovery proceedings under SARFAESI Act will prevail over those under MSMED Act

news & briefings The Supreme Court of India has on 5 January 2023 allowed an appeal against the decision of the Madhya Pradesh High Court which had held that Micro, Small and Medium Enterprises Development Act, 2006 ('MSMED Act') will prevail over Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ('SARFAESI Act').

Sabka Vishwas (LDR) Scheme – Non-payment of settlement amount before stipulated date when not fatal

In an interesting case involving intersection of insolvency laws with a tax settlement scheme, the Supreme Court of India has on 5 January 2023 allowed assessee’s appeal against the High Court decision dismissing assessee’s writ petition which had sought direction to the Revenue department for consideration of the case of the assessee under the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (‘Scheme’).