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...
The text addresses valuation of exports under FOB principles, holding that FOB includes costs incurred up to loading (factory price, inland transport, packing, loading, commission/commission-like fees) and that deductions for protective-agent commissions affect export duty calculation. It treats customs settlement and deposit as admissible admissions by conduct bearing evidential weight. The piece states directors can be held liable for company contraventions absent evidence of due diligence or lack of knowledge, observing the civil penalty regime does not require mens rea. It also notes a proviso permitting adjudication beyond the target period provided reasons for delay are periodically recorded and considered.
The text addresses valuation of exports under FOB principles, holding that FOB includes costs incurred up to loading (factory price, inland transport, packing, loading, commission/commission-like fees) and that deductions for protective-agent commissions affect export duty calculation. It treats customs settlement and deposit as admissible admissions by conduct bearing evidential weight. The piece states directors can be held liable for company contraventions absent evidence of due diligence or lack of knowledge, observing the civil penalty regime does not require mens rea. It also notes a proviso permitting adjudication beyond the target period provided reasons for delay are periodically recorded and considered.
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