Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
CESTAT allowed the appeal and set aside the penalty imposed under s.112(a) of the Customs Act on the chartered engineer-appellant. The Tribunal found procedural infirmities: the show-cause notice initially omitted the appellant and only included him by corrigendum; statements relied on under s.108 were inadmissible given non-compliance with s.138B procedural requirements; and the appellant's role was limited to certifying installation, not the subsequent use of the imported vehicles. Further, because confiscation and penalties previously imposed on the importer and its directors were vacated, imposition of penalty on the engineer could not be sustained. The impugned order is quashed and the appeal is allowed.
CESTAT allowed the appeal and set aside the penalty imposed under s.112(a) of the Customs Act on the chartered engineer-appellant. The Tribunal found procedural infirmities: the show-cause notice initially omitted the appellant and only included him by corrigendum; statements relied on under s.108 were inadmissible given non-compliance with s.138B procedural requirements; and the appellant's role was limited to certifying installation, not the subsequent use of the imported vehicles. Further, because confiscation and penalties previously imposed on the importer and its directors were vacated, imposition of penalty on the engineer could not be sustained. The impugned order is quashed and the appeal is allowed.
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TaxTMI 
TaxTMI 
of 4918 
