Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Misdeclaration of imported goods - Bitumen - Country of Origin - Redemption fine - Levy of penalty - The department was well within its right to seize the goods for such misdeclaration and impose penalties under Section 112 of Customs Act, 1962, notwithstanding the fact that the appellants had nothing to gain financially by such an action as there was no differential duty involved. We find that mens rea is not an essential prerequisite for action u/s 111(m) and Section 112(a) of the Customs Act, 1962. - AT
Misdeclaration of imported goods - Bitumen - Country of Origin - Redemption fine - Levy of penalty - The department was well within its right to seize the goods for such misdeclaration and impose penalties under Section 112 of Customs Act, 1962, notwithstanding the fact that the appellants had nothing to gain financially by such an action as there was no differential duty involved. We find that mens rea is not an essential prerequisite for action u/s 111(m) and Section 112(a) of the Customs Act, 1962. - AT
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