https://www.taxtmi.com/caselaws?id=345515 The Tribunal ruled in favor of the appellant, finding they were not liable under Section 112 of the Customs Act, 1962. The appellant, a buyer and seller of DFRC licenses, acted in good faith and was not directly involved in fraudulent transactions. As they had no role in the illegal activities related to the licenses, the penalty imposed was set aside, emphasizing the distinction between direct involvement and mere transactions. en-us Tue, 06 Jun 2017 00:00:00 +0530 Thu, 20 Jul 2017 07:35:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345515 The Tribunal ruled in favor of the appellant, finding they were not liable under Section 112 of the Customs Act, 1962. The appellant, a buyer and seller of DFRC licenses, acted in good faith and was not directly involved in fraudulent transactions. As they had no role in the illegal activities related to the licenses, the penalty imposed was set aside, emphasizing the distinction between direct involvement and mere transactions. Case-Laws Customs Tue, 06 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345515