Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
The penalty imposed u/s 114(i) of the Customs Act, 1962 on the appellant (a Customs Broker) for abetting the clearance of undeclared/mis-declared export goods was reduced to Rs. 10,00,000/-. However, the penalty imposed u/s 114AA was set aside as the appellant was not responsible for forging any documents and the ingredients specified in Section 114AA were not present. The CESTAT held that the Customs Broker Licensing Regulations, 2013 provide for penal action upon the Customs Broker for failing to fulfill obligations, and penal proceedings could have been initiated under the relevant provisions of the said Regulations.
The penalty imposed u/s 114(i) of the Customs Act, 1962 on the appellant (a Customs Broker) for abetting the clearance of undeclared/mis-declared export goods was reduced to Rs. 10,00,000/-. However, the penalty imposed u/s 114AA was set aside as the appellant was not responsible for forging any documents and the ingredients specified in Section 114AA were not present. The CESTAT held that the Customs Broker Licensing Regulations, 2013 provide for penal action upon the Customs Broker for failing to fulfill obligations, and penal proceedings could have been initiated under the relevant provisions of the said Regulations.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
