Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
HC overturned absolute confiscation of undeclared gold jewelry seized at airport from Dubai returnee. Following precedent in N. Kaliyamoorthy case, court held that absolute confiscation under Section 125 of Customs Act 1962 was inappropriate. While undeclared goods violating import conditions qualify as "prohibited" and are subject to confiscation, complete forfeiture was deemed excessive. Court remanded case to customs authority with directions to permit redemption upon payment of appropriate fine. Jurisdictional challenge by respondents was dismissed as cause of action arose within court's jurisdiction. Original confiscation order and subsequent appellate confirmation were set aside. Petition succeeded with modified penalty approach allowing for possible recovery of goods.
HC overturned absolute confiscation of undeclared gold jewelry seized at airport from Dubai returnee. Following precedent in N. Kaliyamoorthy case, court held that absolute confiscation under Section 125 of Customs Act 1962 was inappropriate. While undeclared goods violating import conditions qualify as "prohibited" and are subject to confiscation, complete forfeiture was deemed excessive. Court remanded case to customs authority with directions to permit redemption upon payment of appropriate fine. Jurisdictional challenge by respondents was dismissed as cause of action arose within court's jurisdiction. Original confiscation order and subsequent appellate confirmation were set aside. Petition succeeded with modified penalty approach allowing for possible recovery of goods.
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