Between November 2022 and January 2023, DRI moved the Supreme Court against the relief granted by CESTAT to three firms Adani Power Maharashtra Limited (APML), Adani Power Rajasthan Limited (APRL) and Maharashtra Eastern Grid Power Transmission Company Limited (MEGPTCL) Was.
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The Supreme Court has given a lot of relief to Adani Group and Gautam Adani on Monday. The Supreme Court dismissed the petitions of the Directorate of Revenue Intelligence challenging the orders issued last year by the Customs, Excise and Service Tax Appellate Tribunal against three subsidiaries of the Adani Group.
the court dri Cases related to over-invoicing charges raised by Between November 2022 and January 2023, the DRI had moved the Supreme Court against the relief granted by CESTAT to three firms: Adani Power Maharashtra Limited, Adani Power Rajasthan Limited and Maharashtra Eastern Grid Power Transmission Company Limited.
all allegations baseless
Senior defense lawyer Mukul Rohatgi said in a media report that the case was dismissed after a long hearing. Our case before the Supreme Court was that two authorities (Judicial Authority and CESTAT) have ruled in our favor and found the allegations of overvaluation baseless, so no question of law arises in this case. On the agency’s contention, the comparative analysis of pricing was shown with international benchmarks in comparison to imports of Boiler Generator Turbines (BTGs) (which were exempted from payment of customs duty), therefore DRI’s case is baseless.
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DRI had withdrawn the charges in this case
Rohatgi also said that the DRI had relied on another case (against Knowledge Infrastructure Systems Pvt Ltd) which was being probed on similar allegations of overvaluation of goods. The tribunal ruled in favor of the company. DRI appealed against the order, later it withdrew its appeal. After withdrawing the appeal in Knowledge Infrastructure, the Department cannot be allowed to take up the matter again in the facts similar to the present case.
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Told this allegation also wrong
Hindenburg Research had referred to the DRI probe in its report, which accused the Adani Group of stock manipulation and misuse of offshore tax havens. Responding to the alleged involvement of members of the Adani family in round-tripping of diamond consignments to and from India, the group said in a press release that CESTAT has ruled in our favor on certain allegations relating to diamond exports. The case has been closed. This decision has been confirmed twice by the Supreme Court itself, a fact which has been deliberately ignored and deliberately ignored in the Hindenburg Report.