Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
CESTAT NEW DELHI held that the appellant mis-declared quantity and quality, overvalued goods, and failed to comply with Advance Authorization requirements. Allegations of concealment and suppression of facts were proven, as the appellant utilized a lapsed authorization for importing goods. Procedural irregularities in sample drawl and examination were noted, with discrepancies in fabric composition. The appellant failed to discharge export obligations and suffered financial losses due to non-cooperation. The appellant's attempt to export goods as a third party exporter was fraudulent. The order of confiscation and penalties imposed were upheld, as the appellant failed to refute findings and evidence presented by the department. Both appeals were dismissed.
CESTAT NEW DELHI held that the appellant mis-declared quantity and quality, overvalued goods, and failed to comply with Advance Authorization requirements. Allegations of concealment and suppression of facts were proven, as the appellant utilized a lapsed authorization for importing goods. Procedural irregularities in sample drawl and examination were noted, with discrepancies in fabric composition. The appellant failed to discharge export obligations and suffered financial losses due to non-cooperation. The appellant's attempt to export goods as a third party exporter was fraudulent. The order of confiscation and penalties imposed were upheld, as the appellant failed to refute findings and evidence presented by the department. Both appeals were dismissed.
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