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...
The CESTAT upheld the vehicle confiscation under Section 115 of the Customs Act, 1962, rejecting the appellant's claim of lack of knowledge about smuggled goods. While mens rea cannot challenge confiscation, the tribunal partially allowed the appeal by reducing the redemption fine from the original amount to Rs 50,000, considering the total seizure value and disposal price of smuggled goods. The decision reinforces that conveyance used in smuggling is mandatorily confiscatable, and mere absence of intentional knowledge does not negate the confiscation order, though it may mitigate penalty implications.
The CESTAT upheld the vehicle confiscation under Section 115 of the Customs Act, 1962, rejecting the appellant's claim of lack of knowledge about smuggled goods. While mens rea cannot challenge confiscation, the tribunal partially allowed the appeal by reducing the redemption fine from the original amount to Rs 50,000, considering the total seizure value and disposal price of smuggled goods. The decision reinforces that conveyance used in smuggling is mandatorily confiscatable, and mere absence of intentional knowledge does not negate the confiscation order, though it may mitigate penalty implications.
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