https://www.taxtmi.com/caselaws?id=209163 The Tribunal upheld the demand for customs duties against M/s Fresh Laboratories but reduced the penalty from Rs. 4 crores to Rs. 50 lakhs, considering the reversal of MODVAT credit and the inapplicability of Section 111(d). The penalty on Shri Bhupendra J. Shah was vacated. For M/s Mahavir Export & Import Co, the penalty was reduced to Rs. 1 lakh, and the penalties on other appellants were vacated. The appeal by M/s Fresh Laboratories was dismissed on merits, with a reduction in the penalty to Rs. 50 lakhs. The appeal by M/s Mahavir Export & Import Co was disposed of by reducing the penalty to Rs. 1 lakh. The appeals by other appellants were allowed, vacating the penalties imposed on them. en-us Fri, 14 Jan 2011 00:00:00 +0530 Tue, 30 Jul 2013 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209163 The Tribunal upheld the demand for customs duties against M/s Fresh Laboratories but reduced the penalty from Rs. 4 crores to Rs. 50 lakhs, considering the reversal of MODVAT credit and the inapplicability of Section 111(d). The penalty on Shri Bhupendra J. Shah was vacated. For M/s Mahavir Export & Import Co, the penalty was reduced to Rs. 1 lakh, and the penalties on other appellants were vacated. The appeal by M/s Fresh Laboratories was dismissed on merits, with a reduction in the penalty to Rs. 50 lakhs. The appeal by M/s Mahavir Export & Import Co was disposed of by reducing the penalty to Rs. 1 lakh. The appeals by other appellants were allowed, vacating the penalties imposed on them. Case-Laws Customs Fri, 14 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209163