Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
IT Resilience Index requires market infrastructure institutions to automate resilience scoring, early warnings, and continuous service-delivery monito...
Smuggling - Absolute confiscation of three gold bars and one small piece of remelted gold - Penalty u/s 112(a) and (b)(i) of Customs Act - The Tribunal noted that the confiscated gold did not bear any foreign markings and was not of standard size, shape, or weight typical of foreign-origin gold. This observation raised doubts about the assumption of its smuggled nature solely based on its physical characteristics. The Tribunal found that the Revenue had not provided substantial evidence to prove the smuggled nature of the gold, relying primarily on assumptions and the initial, subsequently retracted statements of the appellants' employees. - The Tribunal set aside the penalties imposed on the appellants and ordered the return of the confiscated gold to the managing partner. In instances where the gold had been disposed of by Revenue, the appellant was entitled to receive the sale proceeds along with interest.
Smuggling - Absolute confiscation of three gold bars and one small piece of remelted gold - Penalty u/s 112(a) and (b)(i) of Customs Act - The Tribunal noted that the confiscated gold did not bear any foreign markings and was not of standard size, shape, or weight typical of foreign-origin gold. This observation raised doubts about the assumption of its smuggled nature solely based on its physical characteristics. The Tribunal found that the Revenue had not provided substantial evidence to prove the smuggled nature of the gold, relying primarily on assumptions and the initial, subsequently retracted statements of the appellants' employees. - The Tribunal set aside the penalties imposed on the appellants and ordered the return of the confiscated gold to the managing partner. In instances where the gold had been disposed of by Revenue, the appellant was entitled to receive the sale proceeds along with interest.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
