Tax appeal allowed: AO exceeded s.144C DRP mandate by introducing new findings and recharacterising non-resident receipts as permanent establishment i...
Anonymized petitioner gets partial relief: bank guarantee quashed, PVC-coated fabric released under reduced conditions while valuation proceedings con...
CESTAT allowed the appeal and quashed the departmental proceedings. The appellant, an exporter of iron-ore fines, had higher realized FOB values on final invoices than declared in shipping bills; upon detection by DRI the appellant paid the differential duty with interest before issuance of the Show Cause Notice. The Tribunal held that issuance of the SCN after payment was unnecessary under s.28(2) of the Customs Act and, on that basis, set aside the impugned SCN and consequential proceedings. Accordingly the redemption fine and penalties imposed on the appellant were rescinded and the appeal was allowed.
CESTAT allowed the appeal and quashed the departmental proceedings. The appellant, an exporter of iron-ore fines, had higher realized FOB values on final invoices than declared in shipping bills; upon detection by DRI the appellant paid the differential duty with interest before issuance of the Show Cause Notice. The Tribunal held that issuance of the SCN after payment was unnecessary under s.28(2) of the Customs Act and, on that basis, set aside the impugned SCN and consequential proceedings. Accordingly the redemption fine and penalties imposed on the appellant were rescinded and the appeal was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
