Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Misdeclaration of imported goods in quantity, description and valuation justified rejection of the declared transaction value, as the importer's unretracted Section 108 statement admitted the errors and accepted reassessment. The Tribunal held that admitted facts required no further proof and that, where identical goods data was unavailable, value could be redetermined under Rule 5 using contemporary import data of similar goods. In a self-assessment regime, the importer remained responsible for correct declaration and could not avoid liability by blaming the supplier. On that basis, confiscation under Sections 111(l) and 111(m), redemption fine and penalty under Section 114A were upheld, and the appeal was dismissed.
Misdeclaration of imported goods in quantity, description and valuation justified rejection of the declared transaction value, as the importer's unretracted Section 108 statement admitted the errors and accepted reassessment. The Tribunal held that admitted facts required no further proof and that, where identical goods data was unavailable, value could be redetermined under Rule 5 using contemporary import data of similar goods. In a self-assessment regime, the importer remained responsible for correct declaration and could not avoid liability by blaming the supplier. On that basis, confiscation under Sections 111(l) and 111(m), redemption fine and penalty under Section 114A were upheld, and the appeal was dismissed.
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