https://www.taxtmi.com/caselaws?id=343385 The Tribunal set aside the penalties imposed on Shri Syed Hatim Rustom and Shri Mukesh Sharma under Section 114(iii) of the Customs Act, 1962. It found that Rustom's role in introducing the main accused to a Chartered Accountant did not warrant a penalty, and Sharma's involvement in procuring substandard goods for export was insufficient to justify the penalty. The Tribunal also clarified that redetermination of export value under Section 76 precluded the imposition of penalties under Section 114. Consequently, both appeals were allowed, and the impugned orders were set aside. en-us Tue, 24 Jan 2017 00:00:00 +0530 Fri, 09 Feb 2018 15:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343385 The Tribunal set aside the penalties imposed on Shri Syed Hatim Rustom and Shri Mukesh Sharma under Section 114(iii) of the Customs Act, 1962. It found that Rustom's role in introducing the main accused to a Chartered Accountant did not warrant a penalty, and Sharma's involvement in procuring substandard goods for export was insufficient to justify the penalty. The Tribunal also clarified that redetermination of export value under Section 76 precluded the imposition of penalties under Section 114. Consequently, both appeals were allowed, and the impugned orders were set aside. Case-Laws Customs Tue, 24 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343385