Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
The CESTAT allowed the appeal against confiscation of gold, holding that the seizure by customs officials lacked reasonable belief of the goods being smuggled as mandated u/s 123 of the Customs Act, 1962. The appellant successfully discharged the burden of proof by producing documents regarding procurement of the gold. Confiscation u/s 111(d) was held unsustainable as the gold was importable subject to conditions. The absence of reasonable belief vitiated the entire proceedings, rendering the show cause notice and consequent adjudication bad in law.
The CESTAT allowed the appeal against confiscation of gold, holding that the seizure by customs officials lacked reasonable belief of the goods being smuggled as mandated u/s 123 of the Customs Act, 1962. The appellant successfully discharged the burden of proof by producing documents regarding procurement of the gold. Confiscation u/s 111(d) was held unsustainable as the gold was importable subject to conditions. The absence of reasonable belief vitiated the entire proceedings, rendering the show cause notice and consequent adjudication bad in law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
