Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
Separately Identifiable Services: transportation found to be the essential character, so Cargo Handling classification and extended limitation rejecte...
Penalty for non-disclosure of foreign assets was not sustained where the assessee disclosed the assets and foreign income in the return filed after search, and that return operated as the substituted return in place of the original return. Because the Revenue accepted the disclosure, made no addition in the assessment framed on the later return, and produced no material showing deliberate tax evasion, the earlier omission from the original return was treated as a bona fide technical lapse. On those facts, deletion of penalty under the Black Money Act was upheld.
Penalty for non-disclosure of foreign assets was not sustained where the assessee disclosed the assets and foreign income in the return filed after search, and that return operated as the substituted return in place of the original return. Because the Revenue accepted the disclosure, made no addition in the assessment framed on the later return, and produced no material showing deliberate tax evasion, the earlier omission from the original return was treated as a bona fide technical lapse. On those facts, deletion of penalty under the Black Money Act was upheld.
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