Inventory write-off and fraudulent/wrongful trading allegations in corporate insolvency led to director liability principles applied and appeal dismis...
Condonation of delay in filing GSTR-3B returns and entitlement to Section 62 benefit results in withdrawal of assessments and revocation of attachment...
Proceedings apply the preponderance of probabilities standard in adjudicating alleged unauthorised inward remittances and breaches of duties by authorised persons; the tribunal found contraventions established by corroborative bank credit entries and TT references and upheld liability for the transfers identified. The tribunal treated FEMA and Customs inquiries as independent, so absence of Customs action did not vitiate FEMA findings. Confiscation of seized foreign currency recovered from the individual was upheld for failure to surrender within the prescribed period. The tribunal adjusted seized cash against penalty and reduced cumulative penalties on the company and individual to specified amounts, while upholding the confiscation order.
Proceedings apply the preponderance of probabilities standard in adjudicating alleged unauthorised inward remittances and breaches of duties by authorised persons; the tribunal found contraventions established by corroborative bank credit entries and TT references and upheld liability for the transfers identified. The tribunal treated FEMA and Customs inquiries as independent, so absence of Customs action did not vitiate FEMA findings. Confiscation of seized foreign currency recovered from the individual was upheld for failure to surrender within the prescribed period. The tribunal adjusted seized cash against penalty and reduced cumulative penalties on the company and individual to specified amounts, while upholding the confiscation order.
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