https://www.taxtmi.com/caselaws?id=353489 The Tribunal upheld penalties against companies and individuals involved in misdeclaring imported goods to evade customs duties and licensing requirements. M/s Philips India Ltd and M/s Hongkong & Shanghai Banking Corporation Ltd were found liable for their roles in the scheme, while the Modys were implicated in orchestrating the subterfuge. Penalties were set aside for employees not benefiting directly. The ruling stressed compliance with import policies and customs laws, dismissing appeals of directly involved parties but exempting employees lacking direct gains from penalties. en-us Thu, 14 Dec 2017 00:00:00 +0530 Fri, 05 Jan 2018 09:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353489 The Tribunal upheld penalties against companies and individuals involved in misdeclaring imported goods to evade customs duties and licensing requirements. M/s Philips India Ltd and M/s Hongkong & Shanghai Banking Corporation Ltd were found liable for their roles in the scheme, while the Modys were implicated in orchestrating the subterfuge. Penalties were set aside for employees not benefiting directly. The ruling stressed compliance with import policies and customs laws, dismissing appeals of directly involved parties but exempting employees lacking direct gains from penalties. Case-Laws Customs Thu, 14 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353489