Export obligation removed by notification, customs duty demand invalidated; penalties under s.112 and s.114AA quashed due to inadmissible s.108 statem...
Customs officers must wear and use department-issued body-worn cameras when clearing passenger baggage, with daily secure transfer and 30-day retentio...
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ITAT allowed the appeal and set aside the penalty under s. 271(1)(c) imposed by the AO. The Tribunal accepted that certain book entries were false and disallowance for bogus purchases was reduced from 100% to 12.5% to tax the embedded profit, but held that the penalty could not be sustained because the AO charged concealment of income without specifying how concealment occurred. Applying the principle of strict construction of penal provisions, ITAT found a material disconnect between the factual findings and the statutory charge; in absence of a requisite and specific charge of concealment, levy of penalty was held invalid and quashed.
ITAT allowed the appeal and set aside the penalty under s. 271(1)(c) imposed by the AO. The Tribunal accepted that certain book entries were false and disallowance for bogus purchases was reduced from 100% to 12.5% to tax the embedded profit, but held that the penalty could not be sustained because the AO charged concealment of income without specifying how concealment occurred. Applying the principle of strict construction of penal provisions, ITAT found a material disconnect between the factual findings and the statutory charge; in absence of a requisite and specific charge of concealment, levy of penalty was held invalid and quashed.
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