Penalty under section 271(1)(c) deleted where income was disclosed in section 153A returns and remaining additions were only estimated or computationa...
Misdeclaration in customs classification led to denial of exemption and confirmation of differential duty, which was sustained because the importer accepted that the notification benefit was not available. However, once the importer paid the differential duty, interest and the prescribed 15% penalty and informed the department, the proceedings attained finality under section 28(6); no further penalty beyond that limit and no redemption fine could be imposed. The appeal was partly allowed on that basis.
Misdeclaration in customs classification led to denial of exemption and confirmation of differential duty, which was sustained because the importer accepted that the notification benefit was not available. However, once the importer paid the differential duty, interest and the prescribed 15% penalty and informed the department, the proceedings attained finality under section 28(6); no further penalty beyond that limit and no redemption fine could be imposed. The appeal was partly allowed on that basis.
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