Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
No penalty was sustained against a Customs Broker for alleged movement of imported goods before out-of-charge because the vehicles carrying the goods remained within the Land Customs Station and were available for drawal of samples by DRI. On that factual basis, the alleged breach of permitting movement without out-of-charge was not made out. The Tribunal also noted that the appellant had already been discharged in the CBLR proceedings, making the impugned penalty unwarranted. The penalties were set aside and the appeals were allowed.
No penalty was sustained against a Customs Broker for alleged movement of imported goods before out-of-charge because the vehicles carrying the goods remained within the Land Customs Station and were available for drawal of samples by DRI. On that factual basis, the alleged breach of permitting movement without out-of-charge was not made out. The Tribunal also noted that the appellant had already been discharged in the CBLR proceedings, making the impugned penalty unwarranted. The penalties were set aside and the appeals were allowed.
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