Transfer-pricing aggregation of distinct support-service and subcontract transactions was rejected, while debt-free receivables attracted no notional ...
Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
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CESTAT allowed the appeal of M/s X against confirmation of anti-dumping duty, interest and penalty on import of injection moulding machines by invoking the extended limitation under s.28 of the Customs Act and penalty under s.114A. The Tribunal held that the statutory conditions for invoking s.114A and the extended period under s.28 are in pari materia and operate conjointly. Once the Commissioner (A) himself held that penalty under s.114A was not invocable, it necessarily followed that the requisite elements of fraud, suppression or wilful misstatement to trigger the extended period under s.28 were absent. Consequently, the extended limitation and resultant demand, interest and penalty were unsustainable, and the impugned order was set aside to that extent.
CESTAT allowed the appeal of M/s X against confirmation of anti-dumping duty, interest and penalty on import of injection moulding machines by invoking the extended limitation under s.28 of the Customs Act and penalty under s.114A. The Tribunal held that the statutory conditions for invoking s.114A and the extended period under s.28 are in pari materia and operate conjointly. Once the Commissioner (A) himself held that penalty under s.114A was not invocable, it necessarily followed that the requisite elements of fraud, suppression or wilful misstatement to trigger the extended period under s.28 were absent. Consequently, the extended limitation and resultant demand, interest and penalty were unsustainable, and the impugned order was set aside to that extent.
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