Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Absolute confiscation of counterfeit goods upheld as appellant relinquished title and claimed non-ownership. For other mis-declared goods, transaction value rejected u/r 12, value re-determined through market inquiry u/r 9 after deducting abatements, method accepted by importer. Redemption fine equal to value of goods deemed harsh, reduced. Penalty u/ss 114A and 114AA set aside, penalty under 112(a) reduced to Rs. 9,00,000/-. Partial relief granted in appeal before Appellate Tribunal.
Absolute confiscation of counterfeit goods upheld as appellant relinquished title and claimed non-ownership. For other mis-declared goods, transaction value rejected u/r 12, value re-determined through market inquiry u/r 9 after deducting abatements, method accepted by importer. Redemption fine equal to value of goods deemed harsh, reduced. Penalty u/ss 114A and 114AA set aside, penalty under 112(a) reduced to Rs. 9,00,000/-. Partial relief granted in appeal before Appellate Tribunal.
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