Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

M/s. CMA CGM Agencies (I) Pvt. Ltd. Versus CC (Port - Import) , Chennai

Levy of penalty for abatement - alleged violation of having filed an invalid Pre-shipment Inspection Certificate (PSIC) - confiscation and redemption fine - Held that:- The purpose of PSI Certificate is that the consignment does not contain any types of arms, ammunition, mines, shells cartridges or any other explosive materials in any form used or otherwise and that the consignment was checked for radiation level and it does not contain radiation level (gamma and neutron) in excess of natural ba .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ied by the consignment being subjected to inspection and that would not tantamount to improper import of goods u/s 111 of the Customs Act, 1962. - Revenue has failed to bring home the charge of abatement against the appellant. - No penalty - Decided in favor of appellant. - C/41091 - 41092/2015 - FINAL ORDER No.41062-41063/2016 - Dated:- 4-7-2016 - SHRI P.K. CHOUDHARY, JUDICIAL MEMBER Dr. SunitaSundar. R, Advocate, For the Appellant Shri L. Paneerselvam, AC (AR), For the Respondent ORDER M/s. CM .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

14 of declared assessable value of ₹ 17,77,907/- and B/E No. 4920088 dated 17.03.2014 of declared assessable value of ₹ 16,18,351/-. As per the Import Policy, each consignment should be accompanied by Pre-shipment Inspection Certificate (PSIC). The show cause notice was issued by the respondent for alleged violation of having filed an invalid PSI Certificate. It was also found that the declared value of the impugned goods was low and with the acceptance of the importer it was enhance .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

nd ₹ 2,00,000/- (OIO 25805) under Section 125 of the Act along with all applicable duties. He has also imposed a penalty of ₹ 1,00,000/- under Section 112 (a) of the Act on the appellant under both the OIO.On appeal, the Commissioner (Appeals) rejected the appeal on the ground that the appellants were not complying with the conditions of Import in terms of Para 2.32 of the Hand Book of Procedures and failed to furnish the clarifications/details called by the LAA. Aggrieved by this, t .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

t be penalized. On examination of the cargo it did not reveal any untoward materials/articles. She further submitted that the PSI certificate was issued by M/s. Ravi Energie INC, USA, in the format as required under the Handbook and Public Notice and they are listed under Appendix 5 as item No. 98. The Ld. Counsel strongly argued that apart from various documents indicating that not only in Scychelles, but also Morocco Islands, Mauritius, Madagascar and Comoros Islands, wherever there is no desi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

lic notice was recovered rendering them liable for confiscation. She relied on the following case laws in support of her contentions: 1. A.R. Castings Pvt. Ltd. Vs. CC, CESTAT Delhi-2006 (200) ELT 411 (Tri.-Del.) 2. Dee-Vee Metals Vs. CC-2007 (216) ELT 223 (Tri.-Mum.) 3. Rashmi Jain Vs. Addl. Director General of Foreign Trade-2015 (316) ELT 389 (Del.) 4. NGA Steels Pvt. Ltd. Vs. CC, Chennai-F.O.1487/2009 dated 16/10/2009 She further submitted that on the aforesaid grounds the impugned order may .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

etc. The appellant should provide the cargo on board provided that it is bonafide, legal. But in the instant case, they have allowed the cargo without a proper PSI Certificate and failed to discharge their basic bonafide duty. By allowing the cargo, they have abetted the importer, in importing contravened goods. Accordingly, the adjudicating authority has rightly imposed penalty under Section 112 (a) of the Act. There is no evidence of goods being allowed in case of other imports as has been me .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     Latest Happenings     ↓  

News: Notification Issued For GST Actionable Claim On Branded Food Products

News: GST Refund - Blockage of Working Capital of Exporters - earlier also there was a normal blockage of funds for a period of 5-6 months at least

News: Clarification about Transition Credit - ₹ 1.27 lakh crore of credit of Central Excise and Service Tax was lying as closing balance as on 30th June, 2017 - claim of credit of ₹ 65,000 crore is not unexpected

Article: 20 Things You must know about E Way Bills in GST Law

Article: MISTAKES IN DRAFTING

Forum: Duty Drawback- Urgent

Highlight: The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes -reg. - Circular

Highlight: The definition of "subsidiary company" or "subsidiary" u/s 2(87) of the Companies Act, 2013 shall come into force w.e.f. 20-9-2017

Highlight: Central Government notified the All Industry Rates of Duty Drawback Schedule w.e.f. 1.10.2017 - Notification

Notification: All Industry Rates of Duty Drawback Schedule w.e.f. 1.10.2017

Circular: Investment by Foreign Portfolio Investors in Corporate Debt Securities Review

Notification: Exemptions on supply of services under UTGST Act

Notification: Rates for supply of services under UTGST Act

Notification: Exemptions on supply of services under IGST Act

Notification: Rates for supply of services under IGST Act

Notification: List of Exempted supply of services under the CGST Act

Notification: Rates for supply of services under CGST Act

Highlight: Acceptance of deposits by companies from its members - conditions relaxed in case of Specified IFSC Public company and a private company - Rule 3 amended

Notification: Rate of exchange of conversion of the foreign currency with effect from 8th September, 2017

News: Tax Payers Advised To Confirm Identities Of Income Tax Search Authorities

Notification: Amendment in Appendix 3 (SCOMET items) to Schedule- 2 of ITC (HS) Classification of Export and Import Items 2012

Forum: GST Invoice

Notification: The Customs and Central Excise Duties Drawback Rules, 2017

Circular: The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes -reg.

News: GST implementation smoother than expected: Jaitley

Forum: GST - TRAN1 - filed - Data uploaded with Remarks Processed with Error - Not coming in Electronic credit ledger - need suggession guidance

Forum: 3B mistake

Forum: Input tax credit

Forum: Excise duty credit on finished stock at additional place of business.

Forum: Due date of Filing TRAN-1

Highlight: Diversion of income at source - Joint venture agreement - 97% of the receipt transfer to M/s TRG Industries (P) Ltd. - scope of the agreement - it is diversion by overriding title - not taxable in the hands of assessee - HC

Highlight: Expenditure on eligible projects or schemes u/s 35AC - After 01.04.2017 the legislature desired to withdraw such deduction. - The Union legislature was competent to introduce such amendment - HC

Highlight: Transfer of trading assets at cost price, the profit component also stood transferred to the outgoing Directors, which otherwise belonged to the Company - the fact that AO has made the addition in the hands of the Directors would not make any difference - additions confirmed - HC

Highlight: The interest u/s 234B of the Act cannot go beyond the stage of S.245D(I) before the Settlement Commission - HC

Highlight: Galvanized iron pipe is a different commercial commodity than a iron pipe, therefore the activity of galvanization in our considered opinion amounts to manufacture - Deduction u/s 80-IB allowed - HC

Highlight: Penalty u/s 271C - non deduction of TDS on interest paid to sister concerns in terms of Section 194A - Levy of penalty confirmed - HC

Highlight: Disallowance of interest - reference to section 179 - The legislature has also recognised, that the doctrine of lifting of veil in the matter of tax dues is to be applied to prevent fraud etc. and not where the company has suffered despite its normal bona fide function. - HC

News: RBI Reference Rate for US $

Notification: Amendment in Notification No. S.O. 3118(E), dated the 3rd October, 2016

Highlight: Discount on ESOP to be allowed as business expenditure u/s 37(1), during the years of vesting on the basis of percentage of vesting during such period, subject to upward or downward adjustment at the time of exercise of option.

Notification: Central Government appoints the 20th September, 2017 as the date on which proviso to clause (87) of section 2 of the Companies Act 2013, shall come into force

Notification: Companies (Restriction on number of layers) Rules, 2017

Highlight: Penalty u/s 271(1)(c) - additional income disclosure - surrender of income post survey u/s 133A - he disclosure made by the assessee is voluntary in nature, in the revised return - no penalty

Highlight: Reopening of assessment - notice u/s 148 issued on the directions of JCIT / CIT - a perusal of reasons for initiating reassessment proceedings clearly show that they are against the sprit of provisions u/s 147

Highlight: MAT - Adjustment to book profit - computation u/clause (f) of Explanation-1 to section 115JB(2) is to be made without resorting to the computation as contemplated u/s 14A r.w.Rule 8D of I.T. Rules.

Highlight: Addition on account of alleged suppression of service value received - the addition made simply believing the Form 26AS will be an arbitrary exercise of power which cannot be sustained

Notification: Exempts intra state supply of heavy water and nuclear fuels from DAE to NPCIL

Notification: Seeks to amend notification No. 12/2017-UTT(R) to exempt right to admission to the events organised under FIFA U-17 World Cup 2017

Notification: Seeks to amend notification No. 11/2017- UTT(R) to reduce CGST rate on specified supplies of Works Contract Services

Highlight: Liability to pay duty on import of software - Though no authorization was given by the appellant to DHL, it is an undisputed position that the software has, in fact, been ordered by the appellant and have been delivered to them by DHL - the appellant is to be considered as the importer



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version