Home Highlights November 2012 Year 2012 This

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1. Levy of penalty- Fraudulent issuance of GDRs by the Company - the imposition of penalty upon the appellant after 12 years from date of resigning is excessive. In a large...

2. Levy of redemption fine and penalty - valuation of imported goods - brass scrap - The appellate tribunal noted the absence of a market survey conducted by the...

3. Levy of penalty u/s 112(a) and u/s 114AA of the Customs Act, 1962 - allegation of abetment in undervaluation - evasion of Customs Duty by several syndicates of crane...

4. Levy of personal penalty of Rs. 10 lacs u/r 26 of CER, on appellant being DGM-Finance of the company - The appellant being worked as DGM Finance ultimately all the...

5. Levy of penalty on CHA u/s 114(i) and 114AA of the Customs Act, 1962 - acts of omission and commission in relation to the attempted illegal export of Red Sanders - So,...

6. Penalty for violation of Section 15HB of SEBI Act, 1992 - justification for the Tribunal to reduce the penalty below Rs. 1,00,000/- which is the minimum as permissible -...

7. Jurisdiction of Superintendent to pass the order - Monetary limit - The High Court noted that, the circular dated 9.2.2018 limited the power of the Superintendent,...

8. Redemption fine in lieu of confiscation of goods - Mis-classification of imported goods - the party had made a request for mutilation of the imported consignment to...

9. Seizure of Gold Bars - Confiscation - Penalty u/s 112(b) - The case involves the interception of the Appellant carrying 17 pieces of gold of foreign origin in Kolkata....

10. Release of goods - insecticides, pesticides and other agrochemicals including technical such as “Cyantraniliprole Technical” - Import through Port which is not a...

11. Initiation of CIRP u/s 9 - time limitation - threshold limit of amount claimed - With respect to 234 invoices, which are payable within 30 days of the invoices, 224...

12. Provisional release of detained goods - The department's insistence on a 100% bank guarantee of Rs. 25,00,000/- was deemed arbitrary and onerous, especially considering...

13. Quantum of penalty - Absolute confiscation - Smuggling of Gold Bars - prohibited goods or not - The Tribunal, accepting the arguments of revenue, held that, since no...

14. Penalty on daily wager - confiscation of the seized Gold - The appellant was apprehended by customs officers while carrying two pieces of gold bars without possessing...

15. Levy of Redemption Fine and penalty - Confiscation of imported goods - The goods imported were restricted goods and could have been imported on the basis of the Licence...