Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
CESTAT held that the ADG, DRI and the Commissioner of Customs lacked jurisdiction to declare DGFT-issued DEPB scrips ab initio null and void; DEPB scrips, even if voidable for fraud, remained effective unless annulled by the DGFT. The Tribunal set aside demands framed under section 125(2) as impermissible for recovery of duty (duty lies under section 28), and quashed confiscation and penalties under sections 111, 112 and 114 insofar as they rested on unlawful nullification of scrips or on BRC validity. It held customs authorities cannot adjudicate bank-issued BRCs or substitute RBI's domain. Penalties on importers, bank officers and the chartered accountant were rescinded and the appeals were allowed.
CESTAT held that the ADG, DRI and the Commissioner of Customs lacked jurisdiction to declare DGFT-issued DEPB scrips ab initio null and void; DEPB scrips, even if voidable for fraud, remained effective unless annulled by the DGFT. The Tribunal set aside demands framed under section 125(2) as impermissible for recovery of duty (duty lies under section 28), and quashed confiscation and penalties under sections 111, 112 and 114 insofar as they rested on unlawful nullification of scrips or on BRC validity. It held customs authorities cannot adjudicate bank-issued BRCs or substitute RBI's domain. Penalties on importers, bank officers and the chartered accountant were rescinded and the appeals were allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
