Assessment time-barred u/s 153 due to missing competent-authority reference for Singapore exchange of information; assessment disallowed as barred by ...
Imported menthol-scented sweet supari classification dispute: seizure quashed, release for home consumption subject to duty bond; bank guarantee refus...
CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Adjudicatory discretion to fix penalty under Section 13(1) of FEMA permits assessment up to a statutory maximum but does not mandate a minimum; therefore the adjudicator may impose a reduced, reasoned penalty. The Tribunal upheld the Adjudicating Authority's objectively reasoned exercise of discretion, noting the imposed penalty was substantially below the statutory cap and that practical factors - including the respondents' inability to comply with pre-deposit directions and non realisation of penalty - made appellate enhancement unwarranted. Consequently the appeal for enhancement was dismissed and the existing quantum left undisturbed.
Adjudicatory discretion to fix penalty under Section 13(1) of FEMA permits assessment up to a statutory maximum but does not mandate a minimum; therefore the adjudicator may impose a reduced, reasoned penalty. The Tribunal upheld the Adjudicating Authority's objectively reasoned exercise of discretion, noting the imposed penalty was substantially below the statutory cap and that practical factors - including the respondents' inability to comply with pre-deposit directions and non realisation of penalty - made appellate enhancement unwarranted. Consequently the appeal for enhancement was dismissed and the existing quantum left undisturbed.
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