Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
The appellant, a customs broker, was found responsible for advising the importer to follow rules and regulations governing clearance of imported goods, and any non-compliance should have been brought to the customs authorities' notice. The appellant suggested the importer mis-declare the imported goods, described as "blank guns" which could have been modified into lethal weapons, to circumvent requirements under the Foreign Trade Policy and the Arms Act, 1959 read with the Arms Rules, 2016. The appellant had knowledge of such mis-declaration and mis-classification under CTH 9503 as "Blank Firing Guns," requiring a DGFT license under the import policy and a license under the Arms Act. The factual findings led to the forfeiture of the security deposit. As the case involved only factual findings, no substantial questions of law arose, and the appeal was dismissed.
The appellant, a customs broker, was found responsible for advising the importer to follow rules and regulations governing clearance of imported goods, and any non-compliance should have been brought to the customs authorities' notice. The appellant suggested the importer mis-declare the imported goods, described as "blank guns" which could have been modified into lethal weapons, to circumvent requirements under the Foreign Trade Policy and the Arms Act, 1959 read with the Arms Rules, 2016. The appellant had knowledge of such mis-declaration and mis-classification under CTH 9503 as "Blank Firing Guns," requiring a DGFT license under the import policy and a license under the Arms Act. The factual findings led to the forfeiture of the security deposit. As the case involved only factual findings, no substantial questions of law arose, and the appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4780
Join Channel
TaxTMI 
