Revenue authority mandates using scheme-specific reversal procedures, not revising original entries, for instrument-based trade/customs benefits effec...
Transaction value under s.15(1) governs unrelated sales; valuation between related parties per Rule 28; consignment note required for unregistered rec...
The AT dismissed the appeal and upheld the adjudicating authority's order dropping proceedings against the respondents, concluding the directorate failed to prove contravention of FEMA on the preponderance of probabilities. The directorate's case relied predominantly on evidence and statements gathered by I-T authorities without independent corroboration or independent exercise of investigative "like powers" under FEMA. The impugned foreign-origin document was unauthenticated, unsigned and produced only as an unclear photocopy; its provenance and original could not be established. Further, inconsistent statements by the accused and the directorate's inability to produce the case file (attributed to a fire) reinforced the absence of admissible, reliable proof, warranting dismissal of the appeal.
The AT dismissed the appeal and upheld the adjudicating authority's order dropping proceedings against the respondents, concluding the directorate failed to prove contravention of FEMA on the preponderance of probabilities. The directorate's case relied predominantly on evidence and statements gathered by I-T authorities without independent corroboration or independent exercise of investigative "like powers" under FEMA. The impugned foreign-origin document was unauthenticated, unsigned and produced only as an unclear photocopy; its provenance and original could not be established. Further, inconsistent statements by the accused and the directorate's inability to produce the case file (attributed to a fire) reinforced the absence of admissible, reliable proof, warranting dismissal of the appeal.
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