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Sufficient cause for delayed revenue income-tax appeals requires bona fides, due diligence and a credible explanation; otherwise limitation bars appea...
Penalty for Customs Broker involvement in undervaluation of imported premium-brand engines was reduced as excessive. Although the substantially understated declared value warranted a penalty, the broker had sought first check of the consignment, bringing the issue to the department's notice. This bona fide conduct, the finding that the broker was not wholly responsible for the undervaluation, and the penalty already imposed in licensing proceedings supported a reduced penalty under the Customs Act. The appeal was partly allowed.
Penalty for Customs Broker involvement in undervaluation of imported premium-brand engines was reduced as excessive. Although the substantially understated declared value warranted a penalty, the broker had sought first check of the consignment, bringing the issue to the department's notice. This bona fide conduct, the finding that the broker was not wholly responsible for the undervaluation, and the penalty already imposed in licensing proceedings supported a reduced penalty under the Customs Act. The appeal was partly allowed.
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TaxTMI 
TaxTMI 
of 4884 
