https://www.taxtmi.com/caselaws?id=238050 The Tribunal granted the applications for the waiver of pre-deposit of penalty amounts in all appeals related to the confiscation of an imported vessel under the Customs Act, 1962. The Tribunal stayed the recovery of penalties imposed under Sections 114AA and 112(a)&(b) until the appeals were resolved, considering the sufficiency of bank guarantees exceeding the penalties. Compliance with customs regulations, the use of bank guarantees to secure penalty amounts, and the Tribunal's discretion in granting waivers and stays during appeal proceedings were highlighted in this judgment. en-us Mon, 15 Jul 2013 00:00:00 +0530 Tue, 15 Oct 2013 10:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238050 The Tribunal granted the applications for the waiver of pre-deposit of penalty amounts in all appeals related to the confiscation of an imported vessel under the Customs Act, 1962. The Tribunal stayed the recovery of penalties imposed under Sections 114AA and 112(a)&(b) until the appeals were resolved, considering the sufficiency of bank guarantees exceeding the penalties. Compliance with customs regulations, the use of bank guarantees to secure penalty amounts, and the Tribunal's discretion in granting waivers and stays during appeal proceedings were highlighted in this judgment. Case-Laws Customs Mon, 15 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238050