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...
Extension of Customs Act jurisdiction to the Exclusive Economic Zone was applied to fish exports, requiring compliance with FEMA and its regulations; consignments transferred via an intermediary did not avoid this obligation, and contravention of the priorapproval requirement for deductions under Regulation 14C was held established. The appellants invoked lex non cogit ad impossibilia for regulatory impossibility; the tribunal noted the penalty provision lacks a mens rea requirement. Penalties were reduced in quantum as a matter of proportionality, with corporate and individual fines recalibrated and predeposits adjusted; appeals were partly allowed accordingly.
Extension of Customs Act jurisdiction to the Exclusive Economic Zone was applied to fish exports, requiring compliance with FEMA and its regulations; consignments transferred via an intermediary did not avoid this obligation, and contravention of the priorapproval requirement for deductions under Regulation 14C was held established. The appellants invoked lex non cogit ad impossibilia for regulatory impossibility; the tribunal noted the penalty provision lacks a mens rea requirement. Penalties were reduced in quantum as a matter of proportionality, with corporate and individual fines recalibrated and predeposits adjusted; appeals were partly allowed accordingly.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
