Capital Gain Deductibility: proportionate IPO and PMS expenses held allowable against capital gains where netting and nexus to transfer are establishe...
Admissibility of Documentary Evidence: appellate authority may admit self explanatory documents on first production and uphold deletion of unexplained...
DRI officers were held competent to issue SCNs in drawback fraud cases, applying the Tribunal's later precedent upholding DRI jurisdiction; consequently, the challenge to SCN validity failed. Deliberate post-LEO alteration of Bills of Lading to change the port of discharge was treated as fraudulent conduct affecting Customs risk assessment and therefore constituted misdeclaration in the Shipping Bills; accordingly, the export declarations were held tainted. A company was held to fall within "person" by applying the General Clauses Act where the Customs Act is silent; accordingly, corporate liability under s.114 was maintainable in law. However, absent proof of knowing abetment by the customs broker, penalty under s.114(i) was set aside, leaving any lapse to CHALR action. - CESTAT
DRI officers were held competent to issue SCNs in drawback fraud cases, applying the Tribunal's later precedent upholding DRI jurisdiction; consequently, the challenge to SCN validity failed. Deliberate post-LEO alteration of Bills of Lading to change the port of discharge was treated as fraudulent conduct affecting Customs risk assessment and therefore constituted misdeclaration in the Shipping Bills; accordingly, the export declarations were held tainted. A company was held to fall within "person" by applying the General Clauses Act where the Customs Act is silent; accordingly, corporate liability under s.114 was maintainable in law. However, absent proof of knowing abetment by the customs broker, penalty under s.114(i) was set aside, leaving any lapse to CHALR action. - CESTAT
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