Person chargeable with duty must be the importer at importation; subsequent purchasers cannot be held liable where beneficial owner rules did not appl...
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...
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The ITAT held that penalty under section 271(1)(c) was unsustainable because the dispute concerned only the head of income and the allowability of deduction on disclosed facts, not concealment or furnishing of inaccurate particulars. The assessee's claim for full section 54 relief was accepted on the merits, and the joint reinvestment with her son had been disclosed to the department. Relying on Manjunatha Cotton and Reliance Petroproducts, the Tribunal held that a disallowed claim or a claim under a different head does not by itself justify penalty. The penalty was deleted.
The ITAT held that penalty under section 271(1)(c) was unsustainable because the dispute concerned only the head of income and the allowability of deduction on disclosed facts, not concealment or furnishing of inaccurate particulars. The assessee's claim for full section 54 relief was accepted on the merits, and the joint reinvestment with her son had been disclosed to the department. Relying on Manjunatha Cotton and Reliance Petroproducts, the Tribunal held that a disallowed claim or a claim under a different head does not by itself justify penalty. The penalty was deleted.
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