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...
Customs broker's license revocation and forfeiture of security deposit due to alleged overvaluation of imported rough diamonds faced procedural irregularities. CESTAT observed respondent's request for cross-examination of persons whose statements implicated respondent was denied without specific grounds, violating principles of natural justice and Regulation 17(4) of CBLR requiring reasons for denial. CESTAT noted allegations of telephonic conversations lacked evidence of respondent's active role in overvaluation. Department failed to comply with CBLR provisions when cross-examination was requested, forming the sole ground for allowing appeal. Neither proposed questions nor grounds raised this issue, leading to appeal dismissal.
Customs broker's license revocation and forfeiture of security deposit due to alleged overvaluation of imported rough diamonds faced procedural irregularities. CESTAT observed respondent's request for cross-examination of persons whose statements implicated respondent was denied without specific grounds, violating principles of natural justice and Regulation 17(4) of CBLR requiring reasons for denial. CESTAT noted allegations of telephonic conversations lacked evidence of respondent's active role in overvaluation. Department failed to comply with CBLR provisions when cross-examination was requested, forming the sole ground for allowing appeal. Neither proposed questions nor grounds raised this issue, leading to appeal dismissal.
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TaxTMI 
TaxTMI 
of 4916 
