Compromise-and-arrangement extensions may accommodate debt assignment where creditor commercial judgment supports value maximisation and avoids proced...
Delayed-payment surcharge is not taxable tolerance consideration where it penalises default, while meter testing follows electricity distribution trea...
Sufficient cause for delayed revenue income-tax appeals requires bona fides, due diligence and a credible explanation; otherwise limitation bars appea...
Inverted-duty-structure refunds remain available for unchanged-rate apparel supplies despite trader status and require tax-period-specific computation...
Foundational assessment satisfaction is essential before initiating penalty for cash receipt of immovable-property sale consideration under section 27...
The appellants were found involved in smuggling one cut piece of foreign origin gold weighing 645.500 grams. A concealed the gold in his shoe to deliver it outside the airport premises, while B abetted the offense. Both were held liable for penalties u/ss 112(a) and 112(b) of the Customs Act, 1962. Considering their lack of prior antecedents and not being owners or beneficiaries, the Appellate Tribunal reduced the penalties imposed on them from Rs. 5,00,000/- each to Rs. 1,00,000/- each. The appeals were disposed of accordingly.
The appellants were found involved in smuggling one cut piece of foreign origin gold weighing 645.500 grams. A concealed the gold in his shoe to deliver it outside the airport premises, while B abetted the offense. Both were held liable for penalties u/ss 112(a) and 112(b) of the Customs Act, 1962. Considering their lack of prior antecedents and not being owners or beneficiaries, the Appellate Tribunal reduced the penalties imposed on them from Rs. 5,00,000/- each to Rs. 1,00,000/- each. The appeals were disposed of accordingly.
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