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...
Separately Identifiable Services: transportation found to be the essential character, so Cargo Handling classification and extended limitation rejecte...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
