Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Invalid pre-shipment inspection certificates (PSICs) alone do not convert an import into an improper import; non-compliance with PSIC/DGFT requirements attracts administrative inspection or sanctions but not confiscation under the improper-import standard absent evidence of prohibited or incriminating cargo. Consequently, confiscation and redemption fine were set aside for lack of prohibited content. Penal liability for abetment also requires proof of mens rea and active facilitation; finding no sufficient evidence that the importer, director or indenting agent abetted issuance or use of fraudulent PSICs, the Tribunal set aside penalties under the penal provision as unsustainable.
Invalid pre-shipment inspection certificates (PSICs) alone do not convert an import into an improper import; non-compliance with PSIC/DGFT requirements attracts administrative inspection or sanctions but not confiscation under the improper-import standard absent evidence of prohibited or incriminating cargo. Consequently, confiscation and redemption fine were set aside for lack of prohibited content. Penal liability for abetment also requires proof of mens rea and active facilitation; finding no sufficient evidence that the importer, director or indenting agent abetted issuance or use of fraudulent PSICs, the Tribunal set aside penalties under the penal provision as unsustainable.
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