Section 10A and related deductions: Tribunal rejects separate-undertaking claim, but allows loss set-off, ESOP cost and foreign tax credit in principl...
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A statutory appeal cannot be disposed of for default of appearance alone and must be decided on merits; applying that principle, the Tribunal considered the matter on the available record. It also held that personal penalties imposed on persons connected with an importer were purely consequential to the demand and confiscation against the importer. Because the importer's own appeal had already been remanded and the confirmation of demand and confiscation no longer survived, the penalties had no remaining legal foundation and were set aside.
A statutory appeal cannot be disposed of for default of appearance alone and must be decided on merits; applying that principle, the Tribunal considered the matter on the available record. It also held that personal penalties imposed on persons connected with an importer were purely consequential to the demand and confiscation against the importer. Because the importer's own appeal had already been remanded and the confirmation of demand and confiscation no longer survived, the penalties had no remaining legal foundation and were set aside.
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