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...
The dispute concerns imposition of penalties under provisions corresponding to Sections 114A and 114AA for alleged short levy/non levy of anti dumping duty and alleged willful misstatement or suppression. The authority found the importer had not paid anti dumping duty but, upon summons, voluntarily deposited the duty with interest. The tribunal applied the principle that penal liability requires proof of intentional suppression or misstatement and distinguished mere mis declaration or self assessment errors from deliberate intent; absent those elements, penalties cannot be sustained. Consequently, penalties under the cited provisions were not upheld and were set aside for lack of requisite intent.
The dispute concerns imposition of penalties under provisions corresponding to Sections 114A and 114AA for alleged short levy/non levy of anti dumping duty and alleged willful misstatement or suppression. The authority found the importer had not paid anti dumping duty but, upon summons, voluntarily deposited the duty with interest. The tribunal applied the principle that penal liability requires proof of intentional suppression or misstatement and distinguished mere mis declaration or self assessment errors from deliberate intent; absent those elements, penalties cannot be sustained. Consequently, penalties under the cited provisions were not upheld and were set aside for lack of requisite intent.
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