Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Customs - Highlights / Catch Notes

Home Highlights November 2016 Year 2016 This

Levy of Penalty - Valuation - It is only inadvertent mistake ...

Customs

November 4, 2016

Levy of Penalty - Valuation - It is only inadvertent mistake occurred on the part of the appellant in not including cost of transportation, insurance and other expenses for the voyage of the Tug from China to Singapore - penalty waived - AT

View Source

 


 

You may also like:

  1. Penalty u/s 271(1)(c) - If authority is satisfied that there was a reasonable cause, it may impose any penalty but inadvertent mistake cannot call for penalty in the...

  2. Penalty u/s 271(1)(c) - Merely because, the assessee did not preferred any appeal against the said disallowance does not make it an inadvertent mistake - penalty confirmed - AT

  3. Inadvertent error in applying for the e-way bill - There appears no doubt to the genuineness of the explanation furnished by the assessee that the mistake was...

  4. Penalty u/s 271(1)(c) - inadvertent mistake - assessee, the returned income was ₹ 35.37 crores and an error of ₹ 1,30,869/- and ₹ 1,01,956/-, which the...

  5. Penalty u/s 271(1)(c) - mistake of wrong classification of the securities yielding Long Term Capital Gain and consequently the assessee had paid the tax @ 10% instead of...

  6. Valuation - For authorized service stations, the cost of the spare parts and cost of handling of spare parts are not to be included in the value of the services rendered - AT

  7. Authorized service station - valuation – the cost of the spare parts and cost of handling of spare parts are not to be included in the value of the services rendered - AT

  8. Penalty levied u/s.271(1)(c) - excess expenses disallowed and suppression of receipts - being bonafide mistake in accounting the total contract receipts, no penalty.

  9. Levy of penalty - as the mistake had crept in by the act of the respondent revenue themselves and therefore the respondent cannot seek any penalty

  10. Levy of penalty u/s 76 and 78 of the Finance Act, 1994 - taxability of Sale of Space or Time for Advertisement - it is a case of bonafide mistake - no penalty - AT

 

Quick Updates:Latest Updates