Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Receipt of a cheque drawn on an NRE account in Indian currency, without any dealing in foreign exchange or unauthorised conversion, did not amount to a contravention under FERA. The Court held that Section 8(1) applies only where there is acquisition, borrowing, transfer, lending or exchange of foreign exchange otherwise than through an authorised dealer, and that neither the cheque nor the admitted facts satisfied that description. Section 8(2) also did not apply because there was no transaction converting Indian currency into foreign currency, or vice versa, at an unauthorised rate. The penalty was therefore unsustainable, and the objection based on alleged suppression of an earlier prima facie criminal order was rejected.
Receipt of a cheque drawn on an NRE account in Indian currency, without any dealing in foreign exchange or unauthorised conversion, did not amount to a contravention under FERA. The Court held that Section 8(1) applies only where there is acquisition, borrowing, transfer, lending or exchange of foreign exchange otherwise than through an authorised dealer, and that neither the cheque nor the admitted facts satisfied that description. Section 8(2) also did not apply because there was no transaction converting Indian currency into foreign currency, or vice versa, at an unauthorised rate. The penalty was therefore unsustainable, and the objection based on alleged suppression of an earlier prima facie criminal order was rejected.
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