Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
Penalty under section 112(ii) of the Customs Act was in issue for alleged violation of conditions of duty-free gold import under the "Export Against Supply by Nominated Agencies" scheme. The Tribunal held that default would arise only upon failure to complete exports within the prescribed FTP/HBP timelines and furnish supporting evidence; here, customs cancelled the importer's bonds after due verification of exports based on shipping bill EP copy, BRC and customs-attested invoices. The shortfall quantity, for which export proof was unavailable, was regularised by payment of duty with interest, evidencing compliance with the exemption framework. Accordingly, no contravention of the exemption notification was established and penalty was not sustainable; the appeal was dismissed. - CESTAT
Penalty under section 112(ii) of the Customs Act was in issue for alleged violation of conditions of duty-free gold import under the "Export Against Supply by Nominated Agencies" scheme. The Tribunal held that default would arise only upon failure to complete exports within the prescribed FTP/HBP timelines and furnish supporting evidence; here, customs cancelled the importer's bonds after due verification of exports based on shipping bill EP copy, BRC and customs-attested invoices. The shortfall quantity, for which export proof was unavailable, was regularised by payment of duty with interest, evidencing compliance with the exemption framework. Accordingly, no contravention of the exemption notification was established and penalty was not sustainable; the appeal was dismissed. - CESTAT
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