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...
EODC certificates issued by DGFT are determinative of discharge of EPCG export obligations; Customs lacks jurisdiction to re-adjudge fulfilment absent prior DGFT cancellation. The Tribunal relied on prior CESTAT precedents to conclude that confirmation of demand and imposition of penalties by Customs cannot stand where no DGFT adjudication revoked the EODC. Consequently, demands and penalties confirmed by Customs in such circumstances were set aside, restoring the effect of the DGFT certificate as evidence of export obligation fulfillment unless and until DGFT itself cancels it.
EODC certificates issued by DGFT are determinative of discharge of EPCG export obligations; Customs lacks jurisdiction to re-adjudge fulfilment absent prior DGFT cancellation. The Tribunal relied on prior CESTAT precedents to conclude that confirmation of demand and imposition of penalties by Customs cannot stand where no DGFT adjudication revoked the EODC. Consequently, demands and penalties confirmed by Customs in such circumstances were set aside, restoring the effect of the DGFT certificate as evidence of export obligation fulfillment unless and until DGFT itself cancels it.
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