https://www.taxtmi.com/caselaws?id=121031 The appeals challenging penalties imposed on the appellants under the Customs Act were rejected. The penalties of Rs. 20 lakhs on Pankaj P. Shah and Rs. 5 lakhs on Ashok P. Shah were upheld for their involvement in illegal import and sale of goods under Special Imprest Licences. The claim for refund of Rs. 3 crores paid towards Customs duty was also denied, emphasizing the appellants' deep involvement in duty evasion. The judgment concluded that the penalties imposed were justified under Section 112(b) of the Customs Act due to deliberate violations of the law. en-us Wed, 04 Apr 2007 00:00:00 +0530 Thu, 26 Jul 2012 11:45:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121031 The appeals challenging penalties imposed on the appellants under the Customs Act were rejected. The penalties of Rs. 20 lakhs on Pankaj P. Shah and Rs. 5 lakhs on Ashok P. Shah were upheld for their involvement in illegal import and sale of goods under Special Imprest Licences. The claim for refund of Rs. 3 crores paid towards Customs duty was also denied, emphasizing the appellants' deep involvement in duty evasion. The judgment concluded that the penalties imposed were justified under Section 112(b) of the Customs Act due to deliberate violations of the law. Case-Laws Customs Wed, 04 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121031