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...
Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
NCLAT held that repeated non-deposit of amounts deducted from employees' salaries, which were held in trust for remittance to the employees' co-operative society, attracted fraudulent trading liability under Section 66 of the Code. The appellants admitted the deductions and failed to produce reliable material showing any legitimate use of the funds as working capital. The Tribunal further held that proof of personal gain is not essential for fraud; an act or omission intended to deceive or to injure the interests of the corporate debtor or its creditors is sufficient. The finding of liability and the direction for contribution were affirmed.
NCLAT held that repeated non-deposit of amounts deducted from employees' salaries, which were held in trust for remittance to the employees' co-operative society, attracted fraudulent trading liability under Section 66 of the Code. The appellants admitted the deductions and failed to produce reliable material showing any legitimate use of the funds as working capital. The Tribunal further held that proof of personal gain is not essential for fraud; an act or omission intended to deceive or to injure the interests of the corporate debtor or its creditors is sufficient. The finding of liability and the direction for contribution were affirmed.
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