Petition dismissed; petitioner allowed to submit detailed disclosures and documents for re-consideration; notices for 2019-23 may be adjudicated on me...
Confiscation and duty recovery quashed where licensing records show export obligation discharged; customs lacks jurisdiction absent licence annulment ...
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The HC quashes the impugned penalty order under section 270A insofar as it imposes additions based on a transfer pricing adjustment without regard to the Petitioner's APA dated 21 Dec 2021 and the modified return filed under section 92CD(1) (filed 30 Mar 2022) which declared and paid tax on the adjustment. The matter is remitted to Respondent No.1 for fresh adjudication: Respondent No.1 must afford a virtual hearing under the Faceless Penalty (Amendment) Scheme, 2022, consider the admitted payment, absence of any order under section 92CD(3), and prior dropping of penalty for AY 2016-17 on the same APA, and thereafter pass a reasoned order within 12 weeks.
The HC quashes the impugned penalty order under section 270A insofar as it imposes additions based on a transfer pricing adjustment without regard to the Petitioner's APA dated 21 Dec 2021 and the modified return filed under section 92CD(1) (filed 30 Mar 2022) which declared and paid tax on the adjustment. The matter is remitted to Respondent No.1 for fresh adjudication: Respondent No.1 must afford a virtual hearing under the Faceless Penalty (Amendment) Scheme, 2022, consider the admitted payment, absence of any order under section 92CD(3), and prior dropping of penalty for AY 2016-17 on the same APA, and thereafter pass a reasoned order within 12 weeks.
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