Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
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The CESTAT allowed the appeal and set aside the penalties imposed u/s 114A of the Customs Act. The Tribunal held that penalty u/s 114A can only be imposed when duty is payable. In this case, the duty was payable by M/s. BGH Exim Ltd (seller of goods), which had already been paid and settled under the Settlement Commission. Furthermore, the demand in the show cause notice proposing joint and several liability for duty on M/s. BGH Exim Ltd and the appellants was legally untenable, as duty cannot be demanded jointly and severally. Since the duty was confirmed only against M/s. BGH Exim Ltd, there was no reason to impose penalty u/s 114A on the appellants.
The CESTAT allowed the appeal and set aside the penalties imposed u/s 114A of the Customs Act. The Tribunal held that penalty u/s 114A can only be imposed when duty is payable. In this case, the duty was payable by M/s. BGH Exim Ltd (seller of goods), which had already been paid and settled under the Settlement Commission. Furthermore, the demand in the show cause notice proposing joint and several liability for duty on M/s. BGH Exim Ltd and the appellants was legally untenable, as duty cannot be demanded jointly and severally. Since the duty was confirmed only against M/s. BGH Exim Ltd, there was no reason to impose penalty u/s 114A on the appellants.
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