Blocked input tax credit for resort construction remains unavailable; interest follows actual utilisation, while delayed payment attracts statutory pe...
Duplicate PAN allocation requires record verification and deactivation reasons before assessment-related transactions can be attributed to an assessee...
Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
CESTAT modified the customs assessment order involving undervaluation of imported networking equipment. The tribunal found the importer's initial declaration of USD 100 versus actual value of USD 64,496.42 was due to inter-office correspondence error, not intentional duty evasion. While confirming penalty under Section 112(ii), the tribunal set aside penalty under Section 114AA and reduced the redemption fine from Rs. 10,00,000 to Rs. 5,00,000, considering the importer's immediate disclosure and cooperative approach. The appeal was disposed of with partial relief to the appellant, balancing procedural compliance with substantive justice.
CESTAT modified the customs assessment order involving undervaluation of imported networking equipment. The tribunal found the importer's initial declaration of USD 100 versus actual value of USD 64,496.42 was due to inter-office correspondence error, not intentional duty evasion. While confirming penalty under Section 112(ii), the tribunal set aside penalty under Section 114AA and reduced the redemption fine from Rs. 10,00,000 to Rs. 5,00,000, considering the importer's immediate disclosure and cooperative approach. The appeal was disposed of with partial relief to the appellant, balancing procedural compliance with substantive justice.
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