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 ruled that the impugned order against the appellants is set aside. The tribunal found no substantive violations of SCMTR, 2018 regulations or Customs Act provisions, specifically noting that the regulations were not fully operational for the specific port during the relevant period. The court determined that no evidence supported allegations of improper export procedures, and consequently, the confiscation of goods, redemption fine, and penalties were unwarranted. The appeal was allowed in favor of the appellants, effectively nullifying the original order by the Commissioner of Customs.
CESTAT ruled that the impugned order against the appellants is set aside. The tribunal found no substantive violations of SCMTR, 2018 regulations or Customs Act provisions, specifically noting that the regulations were not fully operational for the specific port during the relevant period. The court determined that no evidence supported allegations of improper export procedures, and consequently, the confiscation of goods, redemption fine, and penalties were unwarranted. The appeal was allowed in favor of the appellants, effectively nullifying the original order by the Commissioner of Customs.
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TaxTMI 
TaxTMI 
of 4915 
