Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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.
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