https://www.taxtmi.com/caselaws?id=185292 The Tribunal upheld penalties imposed on an appellant, a 100% EOU, for non-disclosure of capital goods during debonding, despite the appellant's claim of unintentional omission. The appellant's failure to disclose all goods, including generating sets, led to discrepancies identified by the Revenue during an audit. The Tribunal found the penalties justified, emphasizing the duty of entities to provide accurate and complete information when debonding from a 100% EOU status to avoid penalties, even if the omissions were not intentional. The appeals and stay applications were dismissed. en-us Thu, 07 Aug 2014 00:00:00 +0530 Mon, 08 Aug 2016 14:13:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185292 The Tribunal upheld penalties imposed on an appellant, a 100% EOU, for non-disclosure of capital goods during debonding, despite the appellant's claim of unintentional omission. The appellant's failure to disclose all goods, including generating sets, led to discrepancies identified by the Revenue during an audit. The Tribunal found the penalties justified, emphasizing the duty of entities to provide accurate and complete information when debonding from a 100% EOU status to avoid penalties, even if the omissions were not intentional. The appeals and stay applications were dismissed. Case-Laws Customs Thu, 07 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185292