Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
CESTAT upheld penalty liability where the appellant admitted procuring third-party shipping bills for consideration and using them to falsely show fulfilment of EPCG export obligations. The Tribunal treated the cancelled licences and EODCs as confirming the fraudulent arrangement, and held that these acts rendered the goods liable to confiscation under section 111, attracting penalty under section 112(a). It also held that knowing use of false shipping bills and related documents in customs proceedings squarely attracted section 114AA. On proportionality, however, it considered the surrounding circumstances and reduced each penalty to Rs. 50,000, finding that amount sufficient to meet the ends of justice.
CESTAT upheld penalty liability where the appellant admitted procuring third-party shipping bills for consideration and using them to falsely show fulfilment of EPCG export obligations. The Tribunal treated the cancelled licences and EODCs as confirming the fraudulent arrangement, and held that these acts rendered the goods liable to confiscation under section 111, attracting penalty under section 112(a). It also held that knowing use of false shipping bills and related documents in customs proceedings squarely attracted section 114AA. On proportionality, however, it considered the surrounding circumstances and reduced each penalty to Rs. 50,000, finding that amount sufficient to meet the ends of justice.
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