Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Confiscation of goods - insulated copper cables - failure to produce the shipping bill before the ‘proper officer’ - goods had indeed been loaded on board without ‘let export order (LEO)’ - The regularisation of the process for export is on record. Moreover, the vessel had been allowed to depart in accordance with section 42 of Customs Act, 1962 after issue of ‘port clearance’ by the ‘proper officer’ though it was well within the authority of such officer to offload the offending goods. Therefore, it cannot be said that the appellant was in any way connected with illicit shipment of export cargo. Consequently, the imposition of penalty under section 114 of Customs Act, 1962 is unjustified - AT
Confiscation of goods - insulated copper cables - failure to produce the shipping bill before the ‘proper officer’ - goods had indeed been loaded on board without ‘let export order (LEO)’ - The regularisation of the process for export is on record. Moreover, the vessel had been allowed to depart in accordance with section 42 of Customs Act, 1962 after issue of ‘port clearance’ by the ‘proper officer’ though it was well within the authority of such officer to offload the offending goods. Therefore, it cannot be said that the appellant was in any way connected with illicit shipment of export cargo. Consequently, the imposition of penalty under section 114 of Customs Act, 1962 is unjustified - AT
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