Statutory refund interest requires correction of short computation and compensation where admitted interest remains unpaid through administrative dela...
Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
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Seizure of Gold Bars - Confiscation - Penalty u/s 112(b) - The case involves the interception of the Appellant carrying 17 pieces of gold of foreign origin in Kolkata. Despite not claiming ownership of the gold bars, the Appellant was penalized under Section 112(b) of the Customs Act, 1962. The Tribunal affirmed the absolute confiscation of the gold bars but reduced the penalty from Rs. 20 Lakhs to Rs. 2 Lakhs, considering the financial circumstances of the Appellant.
Seizure of Gold Bars - Confiscation - Penalty u/s 112(b) - The case involves the interception of the Appellant carrying 17 pieces of gold of foreign origin in Kolkata. Despite not claiming ownership of the gold bars, the Appellant was penalized under Section 112(b) of the Customs Act, 1962. The Tribunal affirmed the absolute confiscation of the gold bars but reduced the penalty from Rs. 20 Lakhs to Rs. 2 Lakhs, considering the financial circumstances of the Appellant.
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