https://www.taxtmi.com/caselaws?id=115541 The Tribunal confirmed duty demands against an assessee for selling imported yarn instead of using it in the EOU, resulting in a duty demand of Rs. 11,64,313/-. The duty discharge was made before the notice was issued, and the penalty was reduced to Rs. 2.5 lakhs on the assessee under Section 114A. However, the penalty under Section 112(b) on the Director was set aside as there was no positive finding of liability for confiscation. The interest liability was upheld, and the appeals were disposed of accordingly, partly allowing the assessee's appeal and fully allowing the Director's appeal. en-us Thu, 12 May 2005 00:00:00 +0530 Wed, 30 May 2012 17:40:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115541 The Tribunal confirmed duty demands against an assessee for selling imported yarn instead of using it in the EOU, resulting in a duty demand of Rs. 11,64,313/-. The duty discharge was made before the notice was issued, and the penalty was reduced to Rs. 2.5 lakhs on the assessee under Section 114A. However, the penalty under Section 112(b) on the Director was set aside as there was no positive finding of liability for confiscation. The interest liability was upheld, and the appeals were disposed of accordingly, partly allowing the assessee's appeal and fully allowing the Director's appeal. Case-Laws Customs Thu, 12 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115541