Reopening Assessments invalid where satisfaction and jurisdictional approval are absent for third party seized material, leading to quashing of assess...
Benami property exclusion from the insolvency estate: Benami Act proceedings preclude IBC tribunals from reopening attachments or treating such assets...
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Penalty under Sections 112(a) and 112(b) of the Customs Act was unsustainable because the Revenue failed to prove the appellant's conscious involvement in the alleged smuggling or abetment with admissible evidence. The Tribunal held that the discarded statement of a co-noticee, which was not subjected to cross-examination as required under Section 138B, could not form the basis of penal action. It further found no corroboration from any seizure record, panchanama, incriminating document, financial link, communication trail, or role in import clearance. In the absence of tangible evidence connecting the appellant with the 5 live consignments or the earlier 26 consignments, both penalties were set aside.
Penalty under Sections 112(a) and 112(b) of the Customs Act was unsustainable because the Revenue failed to prove the appellant's conscious involvement in the alleged smuggling or abetment with admissible evidence. The Tribunal held that the discarded statement of a co-noticee, which was not subjected to cross-examination as required under Section 138B, could not form the basis of penal action. It further found no corroboration from any seizure record, panchanama, incriminating document, financial link, communication trail, or role in import clearance. In the absence of tangible evidence connecting the appellant with the 5 live consignments or the earlier 26 consignments, both penalties were set aside.
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