https://www.taxtmi.com/caselaws?id=221015 The Appellate Tribunal CESTAT CHENNAI ruled that M/s. Glory Impex, M/s. K.T.V. Oil Mills Ltd., M/s. Crystal Traders, and M/s. Jupiter Trading Corporation, despite being bonafide purchasers, were required to predeposit the confirmed duty amount less what was already paid within 12 weeks due to importing goods using fraudulent DEPB scrips. Interest and penalties were waived for these applicants. V. Sankaran, the broker involved in the fraud, was directed to predeposit 50% of the confirmed penalty amounts within 12 weeks, with the balance waived during the appeals process. en-us Mon, 23 Jul 2012 00:00:00 +0530 Tue, 19 Feb 2013 07:34:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221015 The Appellate Tribunal CESTAT CHENNAI ruled that M/s. Glory Impex, M/s. K.T.V. Oil Mills Ltd., M/s. Crystal Traders, and M/s. Jupiter Trading Corporation, despite being bonafide purchasers, were required to predeposit the confirmed duty amount less what was already paid within 12 weeks due to importing goods using fraudulent DEPB scrips. Interest and penalties were waived for these applicants. V. Sankaran, the broker involved in the fraud, was directed to predeposit 50% of the confirmed penalty amounts within 12 weeks, with the balance waived during the appeals process. Case-Laws Customs Mon, 23 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221015