https://www.taxtmi.com/caselaws?id=114754 The Tribunal confirmed the duty liability on importers for importing excess raw materials, reducing the penalty from Rs. 29,85,674 to Rs. 3,00,000 due to mala fide intentions. The fine of Rs. 1.00 lakh imposed for confiscation of inputs was vacated as there was no intentional misdeclaration. Penalties under Sections 112(a) and 114A of the Customs Act, 1962 were reduced to Rs. 3,00,000 due to mala fide conduct, with no personal involvement found for the Managing Director. Importers were held liable for misusing DEEC Notifications and diverting imported materials, resulting in duty payment and penalty adjustments. en-us Thu, 25 Nov 2004 00:00:00 +0530 Sat, 19 May 2012 16:38:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114754 The Tribunal confirmed the duty liability on importers for importing excess raw materials, reducing the penalty from Rs. 29,85,674 to Rs. 3,00,000 due to mala fide intentions. The fine of Rs. 1.00 lakh imposed for confiscation of inputs was vacated as there was no intentional misdeclaration. Penalties under Sections 112(a) and 114A of the Customs Act, 1962 were reduced to Rs. 3,00,000 due to mala fide conduct, with no personal involvement found for the Managing Director. Importers were held liable for misusing DEEC Notifications and diverting imported materials, resulting in duty payment and penalty adjustments. Case-Laws Customs Thu, 25 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114754