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Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
The case before CESTAT New Delhi involved fraudulent registration and utilization of duty-free scrips, leading to penalties. The appellant failed to comply with notification requirements for duty exemption, resulting in denial of benefits. The appellant purchased a forged and fraudulent scrip, failing to verify its authenticity as required by Foreign Trade Policy and exemption notifications. The appellant's lack of due diligence in verifying and producing the scrip at clearance led to the imposition of penalties. The principle of caveat emptor was applied, emphasizing the buyer's responsibility to make reasonable inquiries. The imposition of penalties under section 114A was upheld due to the appellant's failure to meet notification requirements and lack of genuine belief. The appeals were dismissed, affirming the penalties and confirming the demand.
The case before CESTAT New Delhi involved fraudulent registration and utilization of duty-free scrips, leading to penalties. The appellant failed to comply with notification requirements for duty exemption, resulting in denial of benefits. The appellant purchased a forged and fraudulent scrip, failing to verify its authenticity as required by Foreign Trade Policy and exemption notifications. The appellant's lack of due diligence in verifying and producing the scrip at clearance led to the imposition of penalties. The principle of caveat emptor was applied, emphasizing the buyer's responsibility to make reasonable inquiries. The imposition of penalties under section 114A was upheld due to the appellant's failure to meet notification requirements and lack of genuine belief. The appeals were dismissed, affirming the penalties and confirming the demand.
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