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...
The case involves non-compliance with FSSAI Regulations regarding imported areca nuts. The appellant seeks re-export due to inferior quality. The impugned goods were found unfit for human consumption. The Tribunal notes industrial uses of areca nuts and doubts on the presumption of sole human consumption. It suggests a redemption fine in lieu of confiscation and a reduced penalty of Rs.10 Lakhs for the appellant. The appellant's objection on testing procedures is noted, but the report's findings on non-compliance with standards are not challenged. The penalty on the appellant is reduced from Rs.2 Crores to Rs.10 Lakhs. The appeal is partially allowed.
The case involves non-compliance with FSSAI Regulations regarding imported areca nuts. The appellant seeks re-export due to inferior quality. The impugned goods were found unfit for human consumption. The Tribunal notes industrial uses of areca nuts and doubts on the presumption of sole human consumption. It suggests a redemption fine in lieu of confiscation and a reduced penalty of Rs.10 Lakhs for the appellant. The appellant's objection on testing procedures is noted, but the report's findings on non-compliance with standards are not challenged. The penalty on the appellant is reduced from Rs.2 Crores to Rs.10 Lakhs. The appeal is partially allowed.
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TaxTMI 
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