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...
Penalty under section 271AAC was upheld because the Tribunal found that the quantum addition for unexplained investment had already been conclusively sustained on incriminating digital material and could not be reopened in penalty proceedings. It held that section 271AAC applies where income is determined under section 115BBE, and the statutory immunity is unavailable unless the income is disclosed in the return and tax is paid within the prescribed time, which was not done. The Tribunal further held that the word "may" requires judicial discretion, but where unexplained investment is established and no bona fide explanation or reasonable cause is shown, penalty follows as the natural legal consequence.
Penalty under section 271AAC was upheld because the Tribunal found that the quantum addition for unexplained investment had already been conclusively sustained on incriminating digital material and could not be reopened in penalty proceedings. It held that section 271AAC applies where income is determined under section 115BBE, and the statutory immunity is unavailable unless the income is disclosed in the return and tax is paid within the prescribed time, which was not done. The Tribunal further held that the word "may" requires judicial discretion, but where unexplained investment is established and no bona fide explanation or reasonable cause is shown, penalty follows as the natural legal consequence.
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