Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
Unsubstantiated exempt agricultural income claim sustains concealment penalty after disclosure only on departmental detection and no bona fide evidenc...
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The CESTAT Chandigarh addressed the maintainability of appeals below the monetary threshold limit set by CBIC circulars. The tribunal emphasized the binding nature of CBIC instructions on the department, citing Section 131BA of the Customs Act, 1962. The latest circular dated 02.11.2023 specified a monetary limit of Rs. 50 lakhs for filing appeals before the CESTAT. The tribunal noted that the appeals in question fell below this threshold and highlighted that previous appeals below the monetary limits had been consistently dismissed by higher courts. As the duty amount involved in each appeal was below the prescribed limit, the tribunal ruled the appeals as not maintainable based on the CBIC instructions, dismissing all 26 appeals.
The CESTAT Chandigarh addressed the maintainability of appeals below the monetary threshold limit set by CBIC circulars. The tribunal emphasized the binding nature of CBIC instructions on the department, citing Section 131BA of the Customs Act, 1962. The latest circular dated 02.11.2023 specified a monetary limit of Rs. 50 lakhs for filing appeals before the CESTAT. The tribunal noted that the appeals in question fell below this threshold and highlighted that previous appeals below the monetary limits had been consistently dismissed by higher courts. As the duty amount involved in each appeal was below the prescribed limit, the tribunal ruled the appeals as not maintainable based on the CBIC instructions, dismissing all 26 appeals.
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