Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
Imposition of redemption fine and penalty - Overvaluation export of readymade garments - The CESTAT observed that, to ascertain the value of goods, the Revenue has done market survey in the presence of the representative of the appellant and in the market survey, it was found that the export goods are over valued and the appellant has accepted the same. - the Revenue not agreed upon that transportation charges and profit margin cannot be the double of the goods in the facts and circumstances of the case. - Therefore by giving partial relief, the tribunal while confirming the order, reduced the amount of redemption fine and penalty.
Imposition of redemption fine and penalty - Overvaluation export of readymade garments - The CESTAT observed that, to ascertain the value of goods, the Revenue has done market survey in the presence of the representative of the appellant and in the market survey, it was found that the export goods are over valued and the appellant has accepted the same. - the Revenue not agreed upon that transportation charges and profit margin cannot be the double of the goods in the facts and circumstances of the case. - Therefore by giving partial relief, the tribunal while confirming the order, reduced the amount of redemption fine and penalty.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
