https://www.taxtmi.com/caselaws?id=108162 The Tribunal set aside premature orders imposing penalties, including freight in assessable value, and demanding interest on Bills of Entries under the Customs Act, 1962. Emphasizing the necessity for finalizing assessments before penalty or interest imposition, the Tribunal remitted the matter for proper action in line with the law. The appellant, a PSU unit, succeeded in its stay petition against a penalty of Rs. 30,00,000 under Section 112(a) of the Customs Act, 1962, with the Tribunal highlighting concerns over premature penalty invocation without finalized assessments. en-us Thu, 19 Oct 2000 00:00:00 +0530 Fri, 30 Mar 2012 13:15:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108162 The Tribunal set aside premature orders imposing penalties, including freight in assessable value, and demanding interest on Bills of Entries under the Customs Act, 1962. Emphasizing the necessity for finalizing assessments before penalty or interest imposition, the Tribunal remitted the matter for proper action in line with the law. The appellant, a PSU unit, succeeded in its stay petition against a penalty of Rs. 30,00,000 under Section 112(a) of the Customs Act, 1962, with the Tribunal highlighting concerns over premature penalty invocation without finalized assessments. Case-Laws Customs Thu, 19 Oct 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108162