Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
The CESTAT held that the expression 'liable to penalty' u/s 114AA of the Customs Act, 1962 means that a person who knowingly makes a false declaration may be penalised, but it does not mandate imposition of penalty. The adjudicating authority has discretion to judicially decide whether to impose penalty or not. Even if the case is decided against the appellant's firm for misdeclaration of machinery's year of manufacture to obtain EPCG license, the appellant cannot be penalised u/s 114AA as the alleged misdeclaration was not in any proceeding under the Customs Act but under the Foreign Trade Policy. Therefore, the appeal against the penalty imposed on the appellant u/s 114AA was allowed.
The CESTAT held that the expression 'liable to penalty' u/s 114AA of the Customs Act, 1962 means that a person who knowingly makes a false declaration may be penalised, but it does not mandate imposition of penalty. The adjudicating authority has discretion to judicially decide whether to impose penalty or not. Even if the case is decided against the appellant's firm for misdeclaration of machinery's year of manufacture to obtain EPCG license, the appellant cannot be penalised u/s 114AA as the alleged misdeclaration was not in any proceeding under the Customs Act but under the Foreign Trade Policy. Therefore, the appeal against the penalty imposed on the appellant u/s 114AA was allowed.
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