Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Revocation of a Customs Broker licence and forfeiture of security were disproportionate where the broker failed to verify authorisation and KYC documents, but the attempted prohibited export was actively undertaken by its employee and another person. Prompt action against the employee, absence of deliberate or intentional conduct by the broker, and no repeated violations supported retention of the licence with a penalty. Precedents involving repeated breaches and continuous licence misuse did not apply. The High Court upheld the Tribunal's proportionality finding, concluding that no substantial question of law arose.
Revocation of a Customs Broker licence and forfeiture of security were disproportionate where the broker failed to verify authorisation and KYC documents, but the attempted prohibited export was actively undertaken by its employee and another person. Prompt action against the employee, absence of deliberate or intentional conduct by the broker, and no repeated violations supported retention of the licence with a penalty. Precedents involving repeated breaches and continuous licence misuse did not apply. The High Court upheld the Tribunal's proportionality finding, concluding that no substantial question of law arose.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
