Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
CESTAT Chennai held that penalty u/s 114 Customs Act was not imposed on Respondents for smuggling undeclared cigarettes concealed with gypsum plaster. Penalty was imposed on Shri Anil Gupta, but dropped against Shri Jaffer. Tribunal found no evidence of false documents by Respondents, citing M/s. Artisan Welfare Society case. As no intentional false declaration was proven, penalty u/s 114 AA was unwarranted. Adjudicating authority's decision not to impose penalty upheld, department's appeal dismissed.
CESTAT Chennai held that penalty u/s 114 Customs Act was not imposed on Respondents for smuggling undeclared cigarettes concealed with gypsum plaster. Penalty was imposed on Shri Anil Gupta, but dropped against Shri Jaffer. Tribunal found no evidence of false documents by Respondents, citing M/s. Artisan Welfare Society case. As no intentional false declaration was proven, penalty u/s 114 AA was unwarranted. Adjudicating authority's decision not to impose penalty upheld, department's appeal dismissed.
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TaxTMI 
TaxTMI 
of 4915 
