Reasonable Cause for Late Return: penalty under section 271(1)(c) unsustainable where disclosure, audit filing and voluntary offer showed no concealme...
Proceeds of crime and property equivalent in value: failure to explain lawful source sustains attachment; lack of required notice can vitiate confirma...
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Admissibility of electronic printouts and statements recorded under section 108 in customs valuation was the central issue. Tribunal found absence of evidence about how printouts were produced, lack of certificates and no recording in Panchnamas meant the printouts could not be relied upon for undervaluation findings, so the re-determination of transaction value, differential duty and penalties could not be sustained; consequently the impugned reassessment and related demands/penalties were set aside and the appeals allowed.
Admissibility of electronic printouts and statements recorded under section 108 in customs valuation was the central issue. Tribunal found absence of evidence about how printouts were produced, lack of certificates and no recording in Panchnamas meant the printouts could not be relied upon for undervaluation findings, so the re-determination of transaction value, differential duty and penalties could not be sustained; consequently the impugned reassessment and related demands/penalties were set aside and the appeals allowed.
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