https://www.taxtmi.com/caselaws?id=344893 The Tribunal upheld the Commissioner (Appeals) decision, dismissing the Revenue's appeal against the penalty imposed on the assessee under the Customs Act, 1962. The Tribunal emphasized the binding nature of the Circular issued by the CBEC, allowing for the extension of warehousing periods for capital goods during license renewals. The decision highlighted the importance of following Board Circulars in customs matters and affirmed the relief granted to the assessee based on the Circular's provisions, citing legal precedents supporting the binding nature of such Circulars on Customs Department officers. en-us Tue, 27 Jun 2017 00:00:00 +0530 Thu, 27 Jul 2017 17:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344893 The Tribunal upheld the Commissioner (Appeals) decision, dismissing the Revenue's appeal against the penalty imposed on the assessee under the Customs Act, 1962. The Tribunal emphasized the binding nature of the Circular issued by the CBEC, allowing for the extension of warehousing periods for capital goods during license renewals. The decision highlighted the importance of following Board Circulars in customs matters and affirmed the relief granted to the assessee based on the Circular's provisions, citing legal precedents supporting the binding nature of such Circulars on Customs Department officers. Case-Laws Customs Tue, 27 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344893