BCD exemption for specified display assembly inputs extended for automotive, medical and industrial applications, with defined exclusions and sunset d...
Penalty under section 114(iii) for alleged abetment of overvaluation of export goods could not be sustained without material showing the Customs Broker's involvement in fixing the value or knowledge of the overvaluation. The Tribunal held that customs valuation is for customs authorities, not the broker, who has no role in re-determining export value or examining goods. The broker's earlier CBLR proceedings also recorded no evidence of knowledge. Mere non-cooperation during investigation or failure to answer summons was insufficient to justify this penalty, though it may attract action under other provisions. The penalty was set aside and consequential relief granted.
Penalty under section 114(iii) for alleged abetment of overvaluation of export goods could not be sustained without material showing the Customs Broker's involvement in fixing the value or knowledge of the overvaluation. The Tribunal held that customs valuation is for customs authorities, not the broker, who has no role in re-determining export value or examining goods. The broker's earlier CBLR proceedings also recorded no evidence of knowledge. Mere non-cooperation during investigation or failure to answer summons was insufficient to justify this penalty, though it may attract action under other provisions. The penalty was set aside and consequential relief granted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
