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...
CESTAT allowed appellant's appeal against penalties imposed under Sections 112(a)(i), 112(b)(i), and 114AA of Customs Act, 1962. Department alleged appellant operated as syndicate facilitating clearance of mis-declared/undervalued goods and allowed co-conspirator use of office premises and computer. Tribunal held no evidence substantiated allegations that appellant facilitated clearance of mis-declared goods or was connected with subject goods. Allowing usage of office premises and computer cannot constitute connivance in alleged offence. Investigation failed to establish conditions for invoking penalty provisions under Sections 112 and 114AA. Adjudicating authority's finding that appellant provided assistance in clearance of contraband goods was speculative without evidentiary support. Penalties set aside as unsustainable.
CESTAT allowed appellant's appeal against penalties imposed under Sections 112(a)(i), 112(b)(i), and 114AA of Customs Act, 1962. Department alleged appellant operated as syndicate facilitating clearance of mis-declared/undervalued goods and allowed co-conspirator use of office premises and computer. Tribunal held no evidence substantiated allegations that appellant facilitated clearance of mis-declared goods or was connected with subject goods. Allowing usage of office premises and computer cannot constitute connivance in alleged offence. Investigation failed to establish conditions for invoking penalty provisions under Sections 112 and 114AA. Adjudicating authority's finding that appellant provided assistance in clearance of contraband goods was speculative without evidentiary support. Penalties set aside as unsustainable.
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