Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Penalty under section 114(iii) for alleged abetment of overvaluation of export goods could not be sustained without material showing the Customs Broker's involvement in fixing the value or knowledge of the overvaluation. The Tribunal held that customs valuation is for customs authorities, not the broker, who has no role in re-determining export value or examining goods. The broker's earlier CBLR proceedings also recorded no evidence of knowledge. Mere non-cooperation during investigation or failure to answer summons was insufficient to justify this penalty, though it may attract action under other provisions. The penalty was set aside and consequential relief granted.
Penalty under section 114(iii) for alleged abetment of overvaluation of export goods could not be sustained without material showing the Customs Broker's involvement in fixing the value or knowledge of the overvaluation. The Tribunal held that customs valuation is for customs authorities, not the broker, who has no role in re-determining export value or examining goods. The broker's earlier CBLR proceedings also recorded no evidence of knowledge. Mere non-cooperation during investigation or failure to answer summons was insufficient to justify this penalty, though it may attract action under other provisions. The penalty was set aside and consequential relief granted.
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