Penalty under section 271(1)(c) deleted where income was disclosed in section 153A returns and remaining additions were only estimated or computationa...
Prior to the amendment of section 3(12) of the Customs Tariff Act effective from 16.08.2024, the Customs Act provisions on interest, offences and penalties did not apply to IGST leviable under section 3(7). Applying the Bombay HC rulings in A.R. Sulphonates and Mahindra & Mahindra, the Tribunal held that interest, redemption fine and penalty for the period governed by the unamended provision were without authority of law. The impugned order was therefore set aside to that extent. The confirmation and recovery of IGST itself was not disturbed and was upheld.
Prior to the amendment of section 3(12) of the Customs Tariff Act effective from 16.08.2024, the Customs Act provisions on interest, offences and penalties did not apply to IGST leviable under section 3(7). Applying the Bombay HC rulings in A.R. Sulphonates and Mahindra & Mahindra, the Tribunal held that interest, redemption fine and penalty for the period governed by the unamended provision were without authority of law. The impugned order was therefore set aside to that extent. The confirmation and recovery of IGST itself was not disturbed and was upheld.
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