https://www.taxtmi.com/caselaws?id=195525 The Tribunal set aside the penalties imposed on M/s. Indian Oil Corporation (IOCL) in a case concerning the liability for duty and penalties on imported goods handed over to another entity. The appellant's argument that IOCL, as a canalising agent, should not be held liable for penalties under Section 112(a) of the Customs Act, 1962, was accepted. It was found that IOCL had paid the duty as required, and penalizing them was deemed unjustified. The appeal was allowed in favor of IOCL, with the judgment pronounced on 07.12.2016 by Shri P.K. Choudhary of the Appellate Tribunal CESTAT KOLKATA. en-us Wed, 07 Dec 2016 00:00:00 +0530 Thu, 02 Nov 2017 17:36:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195525 The Tribunal set aside the penalties imposed on M/s. Indian Oil Corporation (IOCL) in a case concerning the liability for duty and penalties on imported goods handed over to another entity. The appellant's argument that IOCL, as a canalising agent, should not be held liable for penalties under Section 112(a) of the Customs Act, 1962, was accepted. It was found that IOCL had paid the duty as required, and penalizing them was deemed unjustified. The appeal was allowed in favor of IOCL, with the judgment pronounced on 07.12.2016 by Shri P.K. Choudhary of the Appellate Tribunal CESTAT KOLKATA. Case-Laws Customs Wed, 07 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195525