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Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Mismatch in the declared and physically verified weight of imported goods sustained liability for differential duty and misdeclaration consequences, but the redemption fine and penalty were found excessive on the facts. The invoice and packing list matched the declared Bill of Entry, the excess quantity emerged only on post-arrival physical verification, and no specific role in the discrepancy was attributed to the importer. The Tribunal therefore accepted that statutory liability could arise despite the importer's bona fides, yet reduced the redemption fine and penalty in view of the absence of established culpable conduct. The appeal was partly allowed.
Mismatch in the declared and physically verified weight of imported goods sustained liability for differential duty and misdeclaration consequences, but the redemption fine and penalty were found excessive on the facts. The invoice and packing list matched the declared Bill of Entry, the excess quantity emerged only on post-arrival physical verification, and no specific role in the discrepancy was attributed to the importer. The Tribunal therefore accepted that statutory liability could arise despite the importer's bona fides, yet reduced the redemption fine and penalty in view of the absence of established culpable conduct. The appeal was partly allowed.
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