No Evidence of Export Attempt of Prohibited Shark Fins: CESTAT Quashes Confiscation and Penalty,...

The CESTAT has "quashed the confiscation and penalty" on a firm regarding an alleged "attempt to export prohibited shark fins." The tribunal ruled that the Directorate of Revenue Intelligence (DRI) failed to provide any substantial evidence to prove that an attempt to export had been made. The CESTAT noted that the domestic trade or storage of shark fins is not prohibited. The decision clarifies the distinction between possession of a restricted item and an "attempt to export." This ruling is a significant victory for the firm and highlights the necessity for tax authorities to provide concrete proof before imposing severe penalties like confiscation.