Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
For assessment and recovery purposes, the importer is the person who files the Bill of Entry, subscribes to the statutory declaration and seeks clearance; because those acts were done by the filing firms and not the appellants, the duty demand under Section 28 and denial of Notification No. 80/95-Cus failed against them. Misdeclaration under Section 111(m) required responsibility for or knowing participation in the false declaration, and no such evidence existed against the appellants, so confiscation and redemption fine were set aside. However, their furnishing of advance licences, end-use bonds and bank guarantees amounted to deliberate facilitation of improper clearance, sustaining penalty under Section 112(a).
For assessment and recovery purposes, the importer is the person who files the Bill of Entry, subscribes to the statutory declaration and seeks clearance; because those acts were done by the filing firms and not the appellants, the duty demand under Section 28 and denial of Notification No. 80/95-Cus failed against them. Misdeclaration under Section 111(m) required responsibility for or knowing participation in the false declaration, and no such evidence existed against the appellants, so confiscation and redemption fine were set aside. However, their furnishing of advance licences, end-use bonds and bank guarantees amounted to deliberate facilitation of improper clearance, sustaining penalty under Section 112(a).
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