Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
Unsubstantiated exempt agricultural income claim sustains concealment penalty after disclosure only on departmental detection and no bona fide evidenc...
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Transferee importers using duty-free DFIA licences linked to fabricated exports must independently verify licence authenticity, underlying export documents and transfer release advice. Verification solely through the DGFT website is insufficient. Purchase through intermediaries does not remove customs duty, interest or penalty exposure where the importer fails to undertake due diligence with licensing or Customs authorities regarding the issuing exporter and claimed exports. The stated Tribunal approach treats absence of such verification as sufficient to sustain liability for imports made under fraudulent transferable export incentive licences.
Transferee importers using duty-free DFIA licences linked to fabricated exports must independently verify licence authenticity, underlying export documents and transfer release advice. Verification solely through the DGFT website is insufficient. Purchase through intermediaries does not remove customs duty, interest or penalty exposure where the importer fails to undertake due diligence with licensing or Customs authorities regarding the issuing exporter and claimed exports. The stated Tribunal approach treats absence of such verification as sufficient to sustain liability for imports made under fraudulent transferable export incentive licences.
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