https://www.taxtmi.com/caselaws?id=120288 The Appellate Tribunal CESTAT, Mumbai granted the waiver of pre-deposit of penalty for the Full-fledged Money Changers involved in abetting smuggling of foreign currency. The decision was based on the Tribunal's assessment that a prima facie case for waiver had been established due to the lack of proper verification procedures followed by the Money Changers. The ruling emphasized the importance of verifying the identity of individuals purchasing TCs to prevent smuggling activities and ensure compliance with the Customs Act, 1962. en-us Mon, 06 Nov 2006 00:00:00 +0530 Wed, 18 Jul 2012 12:35:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120288 The Appellate Tribunal CESTAT, Mumbai granted the waiver of pre-deposit of penalty for the Full-fledged Money Changers involved in abetting smuggling of foreign currency. The decision was based on the Tribunal's assessment that a prima facie case for waiver had been established due to the lack of proper verification procedures followed by the Money Changers. The ruling emphasized the importance of verifying the identity of individuals purchasing TCs to prevent smuggling activities and ensure compliance with the Customs Act, 1962. Case-Laws Customs Mon, 06 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120288