Home Highlights May 2013 Year 2013 This

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1. Levy of penalty u/s 114 - The discretion of levying penalty is always available with the Statutory Authority under Section 114, whenever such an Authority is of the view...

2. Appellate Tribunal set aside penalties imposed on licensed money exchanger for alleged illegal export of currency and import of gold. Observed no evidence of illegal...

3. 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,...

4. Foreign Exchange Management (Export and import of Currency) (Amendment) Regulations, 2019

5. Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified

6. Levy of penalty on CHA u/s 114 (iii) and Section 114AA respectively of the Customs Act, 1962 - allegation of abatement - fraudulent export to claim duty drawback - The...

7. Levy of penalty u/s 114 - attempt to export of red sanders whose export is prohibited unless one has a licence - There was a gross negligence on the part of the...

8. Levy of penalty u/s 114(i) of the Customs Act, 1962 - Smuggling - The reason for imposing the impugned penalty is that the appellant has not verified the Let Export...

9. Calculation under export obligation - the export proceeds realized in any currency would be converted into USD and the term ‘any currency’ would refer to the foreign...

10. Levy of penalty u/s 114(iii) of the Customs Act, 1962 and Section 114AA of the Customs Act, 1962 - export of goods at highly over invoiced values - availing undue export...

11. Levy of penalty u/s 114(i) of the Customs Act, 1962 on Customs Broker - All the allegations if any, would fall under the Customs Broker Licensing Regulations. No...

12. Levy of penalty on the Company as well as on the Director under Section 114(i) of the Customs Act, 1962 - seizure of Red Sandal Wood - illegal export out of India - The...

13. Penalty u/s 271D & 271E - default committed in violation of section 269SS & 269T - Reliance on search proceeding documents - Transactions being mere book entries -...

14. Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Amendment) Regulations, 2019

15. Levy of penalties u/s 114 of the Customs Act, 1962 - overvaluation of export of goods for availment of higher rate of drawback - Penalty on person who partnered with...