Limitation period commencement and procedural inquiry rules: identity-based limitation upheld; complaints by authorised public servants need not attra...
Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Page of 4826
Press 'Enter' after typing page number.
6041 to 6060 of 96510 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Section 28 of the Customs Act permits a demand notice only within five years from the relevant date. The High Court held that the notice issued in 2008 could sustain recovery only for 2003-04 to 2007-08; the demand for 1998-99 to 2002-03 was barred by limitation. Because the extended period was upheld on findings of collusion, wilful misstatement or suppression of facts, penalty under Section 114A was consequential and the Tribunal's deletion of penalty was set aside. The Court also directed that the available physical stock of re-imported silk fabric be adjusted against the surviving shortage, and that duty liability and penalty be recomputed accordingly.
Section 28 of the Customs Act permits a demand notice only within five years from the relevant date. The High Court held that the notice issued in 2008 could sustain recovery only for 2003-04 to 2007-08; the demand for 1998-99 to 2002-03 was barred by limitation. Because the extended period was upheld on findings of collusion, wilful misstatement or suppression of facts, penalty under Section 114A was consequential and the Tribunal's deletion of penalty was set aside. The Court also directed that the available physical stock of re-imported silk fabric be adjusted against the surviving shortage, and that duty liability and penalty be recomputed accordingly.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4826 
Join Channel 
