Money laundering property attachment and third-party encumbrance rights clarified; prior bona fide interests enforceable before confiscation, appeals ...
Profiteering in construction services for failure to pass input tax credit resulted in repayment exceeding the commensurate benefit and closure of pro...
Imported boric acid cleared for non-insecticidal use was alleged to be improperly cleared for want of an import permit/registration, warranting confiscation, redemption fine, and penalty under s.112(a). Since the consignments were released pursuant to binding directions of the HC during the relevant period, and the importer furnished end-use evidence showing consumption only for industrial purposes as required, no act or omission attracting s.112(a) was established; further, once goods were not available, confiscation and redemption fine could not be sustained, and the show-cause route adopted was inconsistent with provisional assessment under s.18. Penalty (and consequential fine) was set aside, and the contrary revenue challenge failed. - CESTAT
Imported boric acid cleared for non-insecticidal use was alleged to be improperly cleared for want of an import permit/registration, warranting confiscation, redemption fine, and penalty under s.112(a). Since the consignments were released pursuant to binding directions of the HC during the relevant period, and the importer furnished end-use evidence showing consumption only for industrial purposes as required, no act or omission attracting s.112(a) was established; further, once goods were not available, confiscation and redemption fine could not be sustained, and the show-cause route adopted was inconsistent with provisional assessment under s.18. Penalty (and consequential fine) was set aside, and the contrary revenue challenge failed. - CESTAT
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