ESOP expenditure allowed as FMV difference; long-term capital gain issue sent back for collector rate determination; deferred income additions disallo...
Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
Appellant's ring-back tone service held OIDAR, taxable domestically for 01.07.2012-31.07.2016; liability confirmed, penalties vacated, remanded for re...
CESTAT dismissed the appeal, upholding confiscation and imposition of penalty under section 114(iii) of the Customs Act, 1962. The Tribunal found undisputed mis-declaration of export goods, rendering them liable to confiscation under section 124, and held the Additional Director, DRI, competent to issue the show-cause notice in these proceedings; the Supreme Court authority relied upon by the appellant concerned issuance of notices under section 28 for duty demand and was in any event subsequently reviewed. The appellant's contention of mere ministerial filing of shipping bills was rejected because the bills were benami and filed at the behest of a third party, attracting primary culpability. A separate penalty under CBLR does not preclude imposition under section 114(iii).
CESTAT dismissed the appeal, upholding confiscation and imposition of penalty under section 114(iii) of the Customs Act, 1962. The Tribunal found undisputed mis-declaration of export goods, rendering them liable to confiscation under section 124, and held the Additional Director, DRI, competent to issue the show-cause notice in these proceedings; the Supreme Court authority relied upon by the appellant concerned issuance of notices under section 28 for duty demand and was in any event subsequently reviewed. The appellant's contention of mere ministerial filing of shipping bills was rejected because the bills were benami and filed at the behest of a third party, attracting primary culpability. A separate penalty under CBLR does not preclude imposition under section 114(iii).
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