CESTAT Upholds Deletion of Penalty Imposed u/s 112a of Customs Act on ground of Wrong Assumption of Confiscation of Imported Goods [Read Order]

CESTAT Upholds Deletion of Penalty Imposed - Customs Act - on ground of Wrong Assumption of Confiscation of Imported Goods - TAXSCAN

The Chennai bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) upheld the deletion of the penalty imposed under section 112A of the Customs Act, 1962.  Kaveri Silks & Jute Private Limited, the respondent assessee filed seven Bills-of-Entry for clearance of Raw Silk Yarn in Hanks, classifying the imported goods.  The revenue appealed…

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