Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
CESTAT allowed the appeal in part: it upheld the original rejection of the declared transaction value, the re-determination of assessable value and duty, and the order of confiscation under s.111(d) & (m) of the Customs Act, while reducing the redemption fine in lieu of confiscation under s.125 to Rs.26,50,000 and setting aside the penalty imposed under s.114A. The Tribunal found the appellant's claim of bona fide import under the EPCG scheme not implausible and noted absence of findings of invoice manipulation or wilful suppression; it further held that once duty as assessed was paid without a s.28(8) demand, imposition of s.114A penalty was untenable.
CESTAT allowed the appeal in part: it upheld the original rejection of the declared transaction value, the re-determination of assessable value and duty, and the order of confiscation under s.111(d) & (m) of the Customs Act, while reducing the redemption fine in lieu of confiscation under s.125 to Rs.26,50,000 and setting aside the penalty imposed under s.114A. The Tribunal found the appellant's claim of bona fide import under the EPCG scheme not implausible and noted absence of findings of invoice manipulation or wilful suppression; it further held that once duty as assessed was paid without a s.28(8) demand, imposition of s.114A penalty was untenable.
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