The Tribunal also found that another penalty imposed under Section 114AA was without sufficient evidence.
In a significant relief to Hindustan Inox Limited and its directors, the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) has quashed the penalties imposed under Section 112(a) of the Customs Act, 1962. The penalties were initially imposed on the directors of the company by the Commissioner of Customs. The issue revolved around the import…
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