https://www.taxtmi.com/caselaws?id=344655 The Commissioner upheld penalties imposed on an importer-company and its Director for undervaluation of imported goods under Sections 112(a) and 114AA of the Customs Act. The Director's challenge on the applicability of Section 114AA to imports was dismissed. The decision highlighted the Director's involvement in under-invoicing and affirmed penalties, emphasizing accountability of Directors in such cases. The appeal was rejected, confirming the validity of penalties imposed under Section 114AA, emphasizing the importance of accurate declaration of goods' value and penalizing violations. en-us Fri, 20 Jan 2017 00:00:00 +0530 Fri, 23 Jun 2017 09:38:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344655 The Commissioner upheld penalties imposed on an importer-company and its Director for undervaluation of imported goods under Sections 112(a) and 114AA of the Customs Act. The Director's challenge on the applicability of Section 114AA to imports was dismissed. The decision highlighted the Director's involvement in under-invoicing and affirmed penalties, emphasizing accountability of Directors in such cases. The appeal was rejected, confirming the validity of penalties imposed under Section 114AA, emphasizing the importance of accurate declaration of goods' value and penalizing violations. Case-Laws Customs Fri, 20 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344655