https://www.taxtmi.com/caselaws?id=112663 The Tribunal set aside the impugned order confirming Customs duty, Central Excise duty, and penalties against a company and its Managing Director accused of diverting imported raw materials and using indigenous non-duty paid raw materials in manufacturing wrist watches. Insufficient evidence was found to support the allegations, with no concrete proof of diversion or use of indigenous parts. The Tribunal emphasized the lack of evidence regarding the purchase of indigenous parts and deemed the confirmation of Central Excise duty without proof of procurement legally unsound. The appeals were accepted, and the imposition of duties and penalties was deemed unjustified. en-us Wed, 29 Sep 2004 00:00:00 +0530 Fri, 14 Aug 2015 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112663 The Tribunal set aside the impugned order confirming Customs duty, Central Excise duty, and penalties against a company and its Managing Director accused of diverting imported raw materials and using indigenous non-duty paid raw materials in manufacturing wrist watches. Insufficient evidence was found to support the allegations, with no concrete proof of diversion or use of indigenous parts. The Tribunal emphasized the lack of evidence regarding the purchase of indigenous parts and deemed the confirmation of Central Excise duty without proof of procurement legally unsound. The appeals were accepted, and the imposition of duties and penalties was deemed unjustified. Case-Laws Customs Wed, 29 Sep 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112663