https://www.taxtmi.com/caselaws?id=343120 The Tribunal allowed the appeal, canceling the penalties imposed under Sections 114A and 114AA of the Customs Act, 1962. The appellant, who imported goods with a license obtained against fake shipping bills, demonstrated vigilance as a buyer by purchasing the license in good faith from the market and registering it with Customs authorities. The Tribunal found that the penalties could be waived in cases of bonafide belief without malafide intention to commit fraud. The appellant's lack of awareness regarding the license's authenticity, attributed primarily to the DGFT, led to the cancellation of the penalties. en-us Fri, 17 Mar 2017 00:00:00 +0530 Sat, 18 Nov 2017 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343120 The Tribunal allowed the appeal, canceling the penalties imposed under Sections 114A and 114AA of the Customs Act, 1962. The appellant, who imported goods with a license obtained against fake shipping bills, demonstrated vigilance as a buyer by purchasing the license in good faith from the market and registering it with Customs authorities. The Tribunal found that the penalties could be waived in cases of bonafide belief without malafide intention to commit fraud. The appellant's lack of awareness regarding the license's authenticity, attributed primarily to the DGFT, led to the cancellation of the penalties. Case-Laws Customs Fri, 17 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343120