Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
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Foreign-exchange remittances for purported non-physical software imports require reliable proof of actual import. A Customs intimation, a pre-import Chartered Accountant valuation report, and a later expert certificate based on company-supplied CDs did not establish receipt of software in the relevant period; the company's FEMA contravention was therefore sustained, although its penalty was reduced for financial duress. An officer in charge who signed remittance documents, admitted that the software received had no value, and failed to show due diligence to prevent the breach was vicariously liable under FEMA. The officer's liability was maintained, with a reduced penalty.
Foreign-exchange remittances for purported non-physical software imports require reliable proof of actual import. A Customs intimation, a pre-import Chartered Accountant valuation report, and a later expert certificate based on company-supplied CDs did not establish receipt of software in the relevant period; the company's FEMA contravention was therefore sustained, although its penalty was reduced for financial duress. An officer in charge who signed remittance documents, admitted that the software received had no value, and failed to show due diligence to prevent the breach was vicariously liable under FEMA. The officer's liability was maintained, with a reduced penalty.
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