Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
Taxpayer Explained source of Money for Purchase of Gold: CESTAT deletes penalty u/s 112 of Customs Act
Excise, VAT & Custom
The Hyderabad bench of the Customs Excise and Service Tax Appellate Tribunal (CESTAT) deleted a penalty under section 112 of the Customs Act after the taxpayer, Kogatam Sadik Basha of M/s Sadik Jewellers, explained the source of money for purchasing 697 grams of gold. \r
The gold, carried by an employee, Mr. Kaluva Hari Obulesu, was intercepted by Customs Officers. Despite lacking documentation, it was revealed that gold was regularly purchased from Mr. Hari Gopal in Chennai. The Tribunal found no basis for the Customs Officer's assumption that the gold was smuggled.\r
The appeal was allowed, setting aside the impugned order, and entitling the appellant to the return of confiscated gold or its sale proceeds with interest.
