Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
Separately Identifiable Services: transportation found to be the essential character, so Cargo Handling classification and extended limitation rejecte...
Cash can fall within the wide definition of property under the PBPT Act, and where funds are transferred through entities controlled by another person and later routed back, both the transfer and temporary holding may satisfy section 2(9)(A); the routed entities are treated as benamidars and the provider as beneficial owner. Disclosure in an income-tax return or payment of tax does not, by itself, bar PBPT proceedings because the Act operates alongside the Income-tax Act and serves a distinct confiscatory purpose. Where tax has already been paid on the routed amount, the attachable benami property may be reduced to that extent. In a running business, transformed assets such as stock and receivables may remain attachable as converted form of benami property.
Cash can fall within the wide definition of property under the PBPT Act, and where funds are transferred through entities controlled by another person and later routed back, both the transfer and temporary holding may satisfy section 2(9)(A); the routed entities are treated as benamidars and the provider as beneficial owner. Disclosure in an income-tax return or payment of tax does not, by itself, bar PBPT proceedings because the Act operates alongside the Income-tax Act and serves a distinct confiscatory purpose. Where tax has already been paid on the routed amount, the attachable benami property may be reduced to that extent. In a running business, transformed assets such as stock and receivables may remain attachable as converted form of benami property.
Note: It is a system-generated summary and is for quick reference only.
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