https://www.taxtmi.com/caselaws?id=361190 The Tribunal upheld penalties on Shri Mahesh P. Patel and Shri Sudesh D. Nanaware under Section 112(a) of the Customs Act, 1962. The penalty under Section 114A was remanded for reconsideration. Shri Patel, a Chartered Accountant, was penalized for issuing a solvency certificate without proper verification, causing a revenue loss of Rs. 1.46 crores. Shri Nanaware, a consultant, facilitated fraud by obtaining advance licenses. Both admitted their roles, with the Tribunal deeming their actions credible. The penalties were justified, and the appeals of Patel and Nanaware were dismissed. The Revenue's appeal was allowed for reconsideration of the penalty under Section 114A. en-us Tue, 08 May 2018 00:00:00 +0530 Fri, 06 Mar 2020 12:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361190 The Tribunal upheld penalties on Shri Mahesh P. Patel and Shri Sudesh D. Nanaware under Section 112(a) of the Customs Act, 1962. The penalty under Section 114A was remanded for reconsideration. Shri Patel, a Chartered Accountant, was penalized for issuing a solvency certificate without proper verification, causing a revenue loss of Rs. 1.46 crores. Shri Nanaware, a consultant, facilitated fraud by obtaining advance licenses. Both admitted their roles, with the Tribunal deeming their actions credible. The penalties were justified, and the appeals of Patel and Nanaware were dismissed. The Revenue's appeal was allowed for reconsideration of the penalty under Section 114A. Case-Laws Customs Tue, 08 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361190