https://www.taxtmi.com/caselaws?id=152336 The court set aside the Customs duty demand and corresponding penalties under Sections 112 and 114 of the Customs Act, in favor of the appellants, M/s. Akash Fabrics, due to relevant tribunal decisions. The appellants were given the option to pay interest within 30 days to fulfill payment requirements. Failure to comply would result in a penalty equivalent to the Central Excise duty under Section 11AC. The penalty on the partner was reduced from Rs. 50,000 to Rs. 10,000. The appeals were decided on 10th November 2009. en-us Tue, 10 Nov 2009 00:00:00 +0530 Sat, 29 Jun 2013 16:25:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152336 The court set aside the Customs duty demand and corresponding penalties under Sections 112 and 114 of the Customs Act, in favor of the appellants, M/s. Akash Fabrics, due to relevant tribunal decisions. The appellants were given the option to pay interest within 30 days to fulfill payment requirements. Failure to comply would result in a penalty equivalent to the Central Excise duty under Section 11AC. The penalty on the partner was reduced from Rs. 50,000 to Rs. 10,000. The appeals were decided on 10th November 2009. Case-Laws Customs Tue, 10 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152336