https://www.taxtmi.com/caselaws?id=270174 The Tribunal set aside the penalty imposed on the appellant-exporter under Section 114(iii) of the Customs Act, 1962 for failure to complete customs formalities before exportation. Relying on the precedent established by the Hon'ble Bombay High Court, the Tribunal found that once the goods entered the port of export, the exporter had no control over them. The appeal was allowed, and the penalty was revoked, emphasizing the importance of understanding responsibilities in export transactions and adherence to legal principles under the Customs Act. en-us Tue, 09 Jun 2015 00:00:00 +0530 Thu, 31 Dec 2015 11:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270174 The Tribunal set aside the penalty imposed on the appellant-exporter under Section 114(iii) of the Customs Act, 1962 for failure to complete customs formalities before exportation. Relying on the precedent established by the Hon'ble Bombay High Court, the Tribunal found that once the goods entered the port of export, the exporter had no control over them. The appeal was allowed, and the penalty was revoked, emphasizing the importance of understanding responsibilities in export transactions and adherence to legal principles under the Customs Act. Case-Laws Customs Tue, 09 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270174