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...
The CESTAT upheld that the appellant, a private limited company, was the importer of worn-out clothing cleared from SEZ to DTA, holding it liable for differential customs duty, fine, and penalty under the Customs Act, 1962 and SEZ Act, 2005. The Tribunal affirmed the proper application of Circular No. 36/2000-Cus regarding mutilation requirements, rejecting the appellant's interpretation. It also confirmed penalty imposition on the authorized signatory under Section 114AA of the Customs Act for acts of omission and commission. The appeals were dismissed as devoid of merit, and the impugned orders of the Commissioner (Appeals) and adjudicating authority were upheld in full.
The CESTAT upheld that the appellant, a private limited company, was the importer of worn-out clothing cleared from SEZ to DTA, holding it liable for differential customs duty, fine, and penalty under the Customs Act, 1962 and SEZ Act, 2005. The Tribunal affirmed the proper application of Circular No. 36/2000-Cus regarding mutilation requirements, rejecting the appellant's interpretation. It also confirmed penalty imposition on the authorized signatory under Section 114AA of the Customs Act for acts of omission and commission. The appeals were dismissed as devoid of merit, and the impugned orders of the Commissioner (Appeals) and adjudicating authority were upheld in full.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
