Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
Imposition of penalty under section 114A requires collusion or wilful mis-statement or suppression of facts; the tribunal found none where the appellant self-assessed Bills of Entry under a bona fide belief of entitlement to an exemption notification. The reasoning held that an incorrect self-assessment alone does not establish suppression or wilful mis-statement and that reassessment is the statutory remedy for such errors. Consequently, the penalty under section 114A was set aside and the appellant granted consequential relief.
Imposition of penalty under section 114A requires collusion or wilful mis-statement or suppression of facts; the tribunal found none where the appellant self-assessed Bills of Entry under a bona fide belief of entitlement to an exemption notification. The reasoning held that an incorrect self-assessment alone does not establish suppression or wilful mis-statement and that reassessment is the statutory remedy for such errors. Consequently, the penalty under section 114A was set aside and the appellant granted consequential relief.
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