https://www.taxtmi.com/caselaws?id=75257 Failure to fulfil export obligations under advance licences justified maintaining the finding of default, as winding up and change in management did not erase liability. However, the age of the matter, non-availability of records despite requests, and the resulting unfairness in answering the show cause notice were relevant to penalty quantum. On these peculiar facts, the Bombay HC declined to disturb the default finding but reduced the penalty from Rs. 11 lakhs to Rs. 2.50 lakhs, granting partial relief to the petitioner. en-us Wed, 26 Aug 2009 00:00:00 +0530 Fri, 02 Apr 2010 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75257 Failure to fulfil export obligations under advance licences justified maintaining the finding of default, as winding up and change in management did not erase liability. However, the age of the matter, non-availability of records despite requests, and the resulting unfairness in answering the show cause notice were relevant to penalty quantum. On these peculiar facts, the Bombay HC declined to disturb the default finding but reduced the penalty from Rs. 11 lakhs to Rs. 2.50 lakhs, granting partial relief to the petitioner. Case-Laws Customs Wed, 26 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75257