Educational approval requires mandatory State registration, but incidental surplus and trustee-owned land do not prove private benefit or profit motiv...
Judicial review of settlement orders cannot reopen settled customs notices, while statutory interest remains subject to verification and quantificatio...
Customs Broker licence lending for consideration justified revocation where exporter authorisation and client verification obligations were also breac...
Fraudulent import documents suspend limitation protection, while redemption of confiscated goods requires duty and interest despite bona fide purchase...
ODR arbitration participation remains mandatory after failed conciliation, while jurisdictional and maintainability objections stay available before t...
Penalty under section 271D for alleged contravention of section 269SS was found unsustainable where the assessment proceedings did not record any finding of such violation. The Tribunal noted that the assessee had furnished complete details of the cash deposits during assessment, and that penalty could not rest on a later second opinion. It also referred to the view in Sahara India Financial Corporation Ltd. that cash deposits by a non-banking financial company dealing with depositors in rural areas without adequate banking facilities did not attract penalty in the stated circumstances. On that basis, the penalty was deleted.
Penalty under section 271D for alleged contravention of section 269SS was found unsustainable where the assessment proceedings did not record any finding of such violation. The Tribunal noted that the assessee had furnished complete details of the cash deposits during assessment, and that penalty could not rest on a later second opinion. It also referred to the view in Sahara India Financial Corporation Ltd. that cash deposits by a non-banking financial company dealing with depositors in rural areas without adequate banking facilities did not attract penalty in the stated circumstances. On that basis, the penalty was deleted.
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