Reversal of input tax credit in proportion to exempt supply: specificity of show-cause notice required; order set aside, fresh proceedings allowed wit...
Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Contraventions under the Foreign Exchange Regulation Act were established by seized office documents, export papers, bank enquiries and corroborative witness statements which explained the modus operandi of over invoicing and unauthorised conversion or transfer of Indian currency to persons outside India; the appellant produced no evidence to rebut the seizures and statements, so the violation finding was upheld. The adjudicatory delay was treated as a mitigating factor and, exercising discretion to mitigate penalty for delay, the monetary sanction was reduced to fifty thousand rupees while the finding of contravention remains affirmed.
Contraventions under the Foreign Exchange Regulation Act were established by seized office documents, export papers, bank enquiries and corroborative witness statements which explained the modus operandi of over invoicing and unauthorised conversion or transfer of Indian currency to persons outside India; the appellant produced no evidence to rebut the seizures and statements, so the violation finding was upheld. The adjudicatory delay was treated as a mitigating factor and, exercising discretion to mitigate penalty for delay, the monetary sanction was reduced to fifty thousand rupees while the finding of contravention remains affirmed.
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