Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
CESTAT overturned penalties imposed under Customs Act sections 114(i), 114(iii), and 114AA against appellant CHA regarding alleged duty drawback fraud through overvalued garment exports. The Tribunal found appellant conducted proper due diligence by verifying KYC documents, obtaining necessary authorizations, and following standard clearance procedures. Exports underwent physical examination without objections to quality or value. No evidence demonstrated appellant's involvement in fraudulent activities or receipt of benefits from duty drawbacks. Following precedents from Mauli Worldwide Logistics and Kunal Travels cases, CESTAT held CHAs are not required to verify authenticity beyond standard document processing. Given lack of evidence supporting allegations, penalties were set aside and appeal allowed.
CESTAT overturned penalties imposed under Customs Act sections 114(i), 114(iii), and 114AA against appellant CHA regarding alleged duty drawback fraud through overvalued garment exports. The Tribunal found appellant conducted proper due diligence by verifying KYC documents, obtaining necessary authorizations, and following standard clearance procedures. Exports underwent physical examination without objections to quality or value. No evidence demonstrated appellant's involvement in fraudulent activities or receipt of benefits from duty drawbacks. Following precedents from Mauli Worldwide Logistics and Kunal Travels cases, CESTAT held CHAs are not required to verify authenticity beyond standard document processing. Given lack of evidence supporting allegations, penalties were set aside and appeal allowed.
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