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Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Penalty under Section 112(a) was held unsustainable against a Customs House Agent who only assisted in filing the Bill of Entry on a self-declared basis. The Tribunal found no corroborative evidence that the CHA had prior knowledge of the concealment of the smuggled goods, and noted that the penalty against the alleged mastermind had already been set aside. It also considered that no proceedings had been initiated against the CHA under the Customs Broker Licensing Regulations. In the absence of proof of knowledge of concealment and licensing-regulation action, the penalty was set aside and the appeal was allowed.
Penalty under Section 112(a) was held unsustainable against a Customs House Agent who only assisted in filing the Bill of Entry on a self-declared basis. The Tribunal found no corroborative evidence that the CHA had prior knowledge of the concealment of the smuggled goods, and noted that the penalty against the alleged mastermind had already been set aside. It also considered that no proceedings had been initiated against the CHA under the Customs Broker Licensing Regulations. In the absence of proof of knowledge of concealment and licensing-regulation action, the penalty was set aside and the appeal was allowed.
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