Tuesday, 4 August 2015

Custom dept. couldn't confiscate cash since it was treated as 'loan' by ITAT

Excise & Customs : Where amounts confiscated by customs department alleging same to be sale proceeds of smuggling were actually found to be 'loan' by Income-tax Appellate Tribunal (ITAT), said confiscation was invalid in light of findings of ITAT; however, customs department is always at liberty to verify authenticity of ITAT orders

No comments:

Post a Comment