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...
The HC dismissed the writ petition challenging the penalty imposed under the Customs Act, holding it non-maintainable due to availability of an efficacious statutory appeal under Section 128 and serious suppression of material facts. The petitioner, a power of attorney holder/agent, had concealed prior proceedings and the related order concerning the connected importers, despite a clear duty of full disclosure by both petitioner and counsel. The HC noted that the same Order-in-Original had already not been entertained in a previous writ by the importer and found no ground to exercise writ jurisdiction, particularly given disputed factual issues. The petition was dismissed with exemplary costs of Rs. 5,00,000, payable to the Delhi HC Staff Welfare Fund within four weeks.
The HC dismissed the writ petition challenging the penalty imposed under the Customs Act, holding it non-maintainable due to availability of an efficacious statutory appeal under Section 128 and serious suppression of material facts. The petitioner, a power of attorney holder/agent, had concealed prior proceedings and the related order concerning the connected importers, despite a clear duty of full disclosure by both petitioner and counsel. The HC noted that the same Order-in-Original had already not been entertained in a previous writ by the importer and found no ground to exercise writ jurisdiction, particularly given disputed factual issues. The petition was dismissed with exemplary costs of Rs. 5,00,000, payable to the Delhi HC Staff Welfare Fund within four weeks.
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