Minimum alternate tax exclusions for pre-amendment banking companies and expatriate Indian branch salaries remain outside head office expenditure limi...
Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Penalty under Customs law could not be sustained against a customs broker where the only allegation was breach of the Customs Brokers Licensing Regulations. The Tribunal noted that earlier licence-suspension proceedings had recorded no mens rea, knowledge, connivance or negligence, and the suspension was revoked. Section 112(a)(i) applies only if the person did or omitted to do an act rendering the goods liable to confiscation under Section 111. As the impugned order found no such act, omission or abetment and rested only on CBLR breach, the statutory basis for penalty was absent and the penalty was set aside.
Penalty under Customs law could not be sustained against a customs broker where the only allegation was breach of the Customs Brokers Licensing Regulations. The Tribunal noted that earlier licence-suspension proceedings had recorded no mens rea, knowledge, connivance or negligence, and the suspension was revoked. Section 112(a)(i) applies only if the person did or omitted to do an act rendering the goods liable to confiscation under Section 111. As the impugned order found no such act, omission or abetment and rested only on CBLR breach, the statutory basis for penalty was absent and the penalty was set aside.
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