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...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Reason to believe as an essential ingredient for imposing a penalty under section 112(b) is examined, with emphasis on corroboration failures and circumstantial indicators permitting an inference of prior knowledge rather than innocent carriage; the account's unverifiable intermediary, non traceable contact details and voluntary no objection to seizure supported that inference, sustaining the legal basis for penalty. The article also explains that judicial discretion may moderate penalty quantum on humanitarian and equitable grounds where confiscation and prosecution remain in place, resulting in reduced monetary penalties.
Reason to believe as an essential ingredient for imposing a penalty under section 112(b) is examined, with emphasis on corroboration failures and circumstantial indicators permitting an inference of prior knowledge rather than innocent carriage; the account's unverifiable intermediary, non traceable contact details and voluntary no objection to seizure supported that inference, sustaining the legal basis for penalty. The article also explains that judicial discretion may moderate penalty quantum on humanitarian and equitable grounds where confiscation and prosecution remain in place, resulting in reduced monetary penalties.
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