https://www.taxtmi.com/caselaws?id=326293 The Tribunal upheld the denial of exemption under Notification No. 84/97-CUS for imported goods due to fabricated certificates. The imposition of redemption fines was deemed unsustainable as goods were not seized or provisionally released. Penalties under Section 112 were upheld for OCIL, citing strict liability for statutory breaches. However, penalties under Section 114A for OCIL and Section 112 for ICICI Bank Ltd. were not imposed due to lack of evidence of involvement in forgery. The appeals resulted in the denial of exemption, upholding of customs duty demand and penalties on OCIL, setting aside of redemption fines, and non-imposition of penalties on OCIL and ICICI Bank Ltd. en-us Tue, 05 Apr 2016 00:00:00 +0530 Mon, 13 Feb 2017 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326293 The Tribunal upheld the denial of exemption under Notification No. 84/97-CUS for imported goods due to fabricated certificates. The imposition of redemption fines was deemed unsustainable as goods were not seized or provisionally released. Penalties under Section 112 were upheld for OCIL, citing strict liability for statutory breaches. However, penalties under Section 114A for OCIL and Section 112 for ICICI Bank Ltd. were not imposed due to lack of evidence of involvement in forgery. The appeals resulted in the denial of exemption, upholding of customs duty demand and penalties on OCIL, setting aside of redemption fines, and non-imposition of penalties on OCIL and ICICI Bank Ltd. Case-Laws Customs Tue, 05 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326293