Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
The CESTAT held that Section 28AAA of the Customs Act, 1962, invoked by the Revenue for recovery of duty foregone, requires establishing collusion, willful misrepresentation or suppression of facts at the time of obtaining the instrument for exemption. Mere non-repatriation of export proceeds does not automatically erase eligibility for exemption. The Tribunal found no evidence of the required ingredients u/s 28AAA to justify recovery of duty foregone or cancellation of bank realization certificates. The alleged mis-declaration of goods did not warrant confiscation u/s 113(d) as the goods were not prohibited for export. The demands for recovery of drawback, duty foregone, and confiscation of goods were quashed. Penalties imposed on individuals were also set aside due to lack of sustainable grounds. The Tribunal dismissed the Revenue's appeals and allowed the appeals of exporters and individuals.
The CESTAT held that Section 28AAA of the Customs Act, 1962, invoked by the Revenue for recovery of duty foregone, requires establishing collusion, willful misrepresentation or suppression of facts at the time of obtaining the instrument for exemption. Mere non-repatriation of export proceeds does not automatically erase eligibility for exemption. The Tribunal found no evidence of the required ingredients u/s 28AAA to justify recovery of duty foregone or cancellation of bank realization certificates. The alleged mis-declaration of goods did not warrant confiscation u/s 113(d) as the goods were not prohibited for export. The demands for recovery of drawback, duty foregone, and confiscation of goods were quashed. Penalties imposed on individuals were also set aside due to lack of sustainable grounds. The Tribunal dismissed the Revenue's appeals and allowed the appeals of exporters and individuals.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
