Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
Adjudicating authorities must record reasoned findings when imposing penalties under Customs provisions; failing to apply mind or explain rejection of the importer's explanation renders the penalty order unsustainable and requires fresh adjudication. A finding of knowledge and intention is jurisdictional to impose penal liability for dealing with misdeclared or improperly imported goods and for abetment, so penalties under those provisions cannot stand absent such findings. Failure to address the broker's submissions and relevant circulars, unequal application of penalty rates, and mere repetition of the show cause notice without independent connecting findings compelled setting aside the order and remanding for redecison.
Adjudicating authorities must record reasoned findings when imposing penalties under Customs provisions; failing to apply mind or explain rejection of the importer's explanation renders the penalty order unsustainable and requires fresh adjudication. A finding of knowledge and intention is jurisdictional to impose penal liability for dealing with misdeclared or improperly imported goods and for abetment, so penalties under those provisions cannot stand absent such findings. Failure to address the broker's submissions and relevant circulars, unequal application of penalty rates, and mere repetition of the show cause notice without independent connecting findings compelled setting aside the order and remanding for redecison.
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