Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
Broker trading-system "technical glitch" redefinition and narrowed incident-reporting regime for large IBT/STWT brokers requiring 2-hr notice and 14-w...
CESTAT partly allowed the appeal concerning refund of 4% Additional Duty of Customs on imported construction materials. It held that production of documents evidencing payment of VAT/CST, along with a Chartered Accountant certificate, satisfied para 2(e)(iii) of Notification No. 102/2007-Cus read with Circular No. 16/2008, and that the authority erred in rejecting the certificate merely for not conforming to the indicative format in PN 39/2011. However, applying the one-year limitation introduced by Notification No. 93/2008, the Tribunal held the refund claims linked to four specified bills of entry to be time-barred, granting refund only for the remainder.
CESTAT partly allowed the appeal concerning refund of 4% Additional Duty of Customs on imported construction materials. It held that production of documents evidencing payment of VAT/CST, along with a Chartered Accountant certificate, satisfied para 2(e)(iii) of Notification No. 102/2007-Cus read with Circular No. 16/2008, and that the authority erred in rejecting the certificate merely for not conforming to the indicative format in PN 39/2011. However, applying the one-year limitation introduced by Notification No. 93/2008, the Tribunal held the refund claims linked to four specified bills of entry to be time-barred, granting refund only for the remainder.
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