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...
Redemption fine imposed under s.125 of the Customs Act for import of a used car in violation of Foreign Trade Policy conditions was waived because the importer declined to redeem the seized vehicle, citing its disfigured condition and lack of roadworthiness, and the tribunal accepted the prayer in the miscellaneous application. Penalty under s.112(a) was legally leviable for the unauthorised import, but was reduced on equitable consideration that the import occurred without awareness of applicable import laws and under exceptional personal circumstances compelling the importer's return to India; the appeal was partly allowed to that extent. - CESTAT
Redemption fine imposed under s.125 of the Customs Act for import of a used car in violation of Foreign Trade Policy conditions was waived because the importer declined to redeem the seized vehicle, citing its disfigured condition and lack of roadworthiness, and the tribunal accepted the prayer in the miscellaneous application. Penalty under s.112(a) was legally leviable for the unauthorised import, but was reduced on equitable consideration that the import occurred without awareness of applicable import laws and under exceptional personal circumstances compelling the importer's return to India; the appeal was partly allowed to that extent. - CESTAT
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