Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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.
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