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...
CESTAT allowed the appeal, setting aside the Principal Commissioner's order dated 09.03.2022. The tribunal held that the customs authority lacked jurisdiction to invoke section 28AAA without DGFT cancellation of the export instrument. The evidence relied upon was deemed inadmissible, specifically statements under section 108 of the Customs Act. Consequently, penalties under sections 114AA and 114(iii) were quashed, and goods confiscation was reversed. The decision emphasized that the exporter's liability cannot be established without conclusive proof of destination or document verification by relevant authorities.
CESTAT allowed the appeal, setting aside the Principal Commissioner's order dated 09.03.2022. The tribunal held that the customs authority lacked jurisdiction to invoke section 28AAA without DGFT cancellation of the export instrument. The evidence relied upon was deemed inadmissible, specifically statements under section 108 of the Customs Act. Consequently, penalties under sections 114AA and 114(iii) were quashed, and goods confiscation was reversed. The decision emphasized that the exporter's liability cannot be established without conclusive proof of destination or document verification by relevant authorities.
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TaxTMI 
TaxTMI 
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