Penalty under section 271(1)(c) deleted where income was disclosed in section 153A returns and remaining additions were only estimated or computationa...
CESTAT allowed appellants' appeals, setting aside customs duty demand and penalty. The tribunal found no sustainable evidence of undervaluation, non-compliance with notification requirements, or procedural irregularities. Electronic evidence and investigation statements were deemed inadmissible due to non-compliance with Sections 138B and 138C of Customs Act. The tribunal ordered refund of Rs. 1,21,73,905/- paid during investigation within 60 days, effectively exonerating the appellants of all charges related to customs duty evasion and undervaluation.
CESTAT allowed appellants' appeals, setting aside customs duty demand and penalty. The tribunal found no sustainable evidence of undervaluation, non-compliance with notification requirements, or procedural irregularities. Electronic evidence and investigation statements were deemed inadmissible due to non-compliance with Sections 138B and 138C of Customs Act. The tribunal ordered refund of Rs. 1,21,73,905/- paid during investigation within 60 days, effectively exonerating the appellants of all charges related to customs duty evasion and undervaluation.
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