https://www.taxtmi.com/caselaws?id=359322 The Appellate Tribunal CESTAT MUMBAI allowed the appeal by M/S Sitara Shipping Limited and its Managing Director against penalties imposed under section 114(1) of the Customs Act, 1962. The penalties of &8377; 1,00,00,000/- and Rs.50,00,000/- were set aside as the tribunal found that the appellants could not be held liable under the said provision. The tribunal concluded that the penalties imposed for their alleged involvement in fraudulent export activities were not sustainable in law, referencing a previous order where similar penalties were overturned on appeal. en-us Thu, 05 Apr 2018 00:00:00 +0530 Fri, 27 Apr 2018 08:30:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359322 The Appellate Tribunal CESTAT MUMBAI allowed the appeal by M/S Sitara Shipping Limited and its Managing Director against penalties imposed under section 114(1) of the Customs Act, 1962. The penalties of &8377; 1,00,00,000/- and Rs.50,00,000/- were set aside as the tribunal found that the appellants could not be held liable under the said provision. The tribunal concluded that the penalties imposed for their alleged involvement in fraudulent export activities were not sustainable in law, referencing a previous order where similar penalties were overturned on appeal. Case-Laws Customs Thu, 05 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359322