https://www.taxtmi.com/caselaws?id=112317 The Appellate Tribunal CESTAT, Mumbai, upheld the duty confirmation and penalty imposition decisions against the appellants for importing goods duty-free but failing to fulfill the export obligation and selling the goods locally. The Tribunal rejected the appellants' defense of intending to fulfill the obligation with local material, emphasizing the breach of obligation not to dispose of imported goods without meeting the export requirement. The appeal was dismissed, affirming the duty confirmation of Rs. 10,75,081/- on the appellants and penalties of Rs. 5,00,000/- on the company and Rs. 1,00,000/- on an individual. en-us Thu, 24 Jun 2004 00:00:00 +0530 Fri, 27 Apr 2012 16:06:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112317 The Appellate Tribunal CESTAT, Mumbai, upheld the duty confirmation and penalty imposition decisions against the appellants for importing goods duty-free but failing to fulfill the export obligation and selling the goods locally. The Tribunal rejected the appellants' defense of intending to fulfill the obligation with local material, emphasizing the breach of obligation not to dispose of imported goods without meeting the export requirement. The appeal was dismissed, affirming the duty confirmation of Rs. 10,75,081/- on the appellants and penalties of Rs. 5,00,000/- on the company and Rs. 1,00,000/- on an individual. Case-Laws Customs Thu, 24 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112317