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...
Where differential customs duty was not paid on two import invoices, the tribunal held that demand, confiscation under s.111(l), and penalties were unsustainable because the importer voluntarily disclosed the lapse and deposited the differential duty with interest prior to issuance of the show cause notice, negating suppression, misstatement, collusion, or mala fide intent; consequently, the penalty on the responsible employee also could not survive. The impugned order was set aside and the appeals were allowed with consequential relief as per law. - CESTAT
Where differential customs duty was not paid on two import invoices, the tribunal held that demand, confiscation under s.111(l), and penalties were unsustainable because the importer voluntarily disclosed the lapse and deposited the differential duty with interest prior to issuance of the show cause notice, negating suppression, misstatement, collusion, or mala fide intent; consequently, the penalty on the responsible employee also could not survive. The impugned order was set aside and the appeals were allowed with consequential relief as per law. - CESTAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
