https://www.taxtmi.com/caselaws?id=380306 The tribunal held that the company was not entitled to exemption on diverted parts as they did not meet the specified end-use criteria. The successor firm was deemed fully liable for duty on diverted goods upon acquisition. Penalties for non-compliance were upheld but reduced for the appellant, with personal penalties set aside for individuals. The tribunal clarified the strict interpretation of exemption notifications, successor firm liabilities, and penalties for customs duty non-compliance. The appeal was partly allowed, modifying the order and reducing penalties imposed on the appellant. en-us Thu, 16 May 2019 00:00:00 +0530 Fri, 13 Mar 2020 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380306 The tribunal held that the company was not entitled to exemption on diverted parts as they did not meet the specified end-use criteria. The successor firm was deemed fully liable for duty on diverted goods upon acquisition. Penalties for non-compliance were upheld but reduced for the appellant, with personal penalties set aside for individuals. The tribunal clarified the strict interpretation of exemption notifications, successor firm liabilities, and penalties for customs duty non-compliance. The appeal was partly allowed, modifying the order and reducing penalties imposed on the appellant. Case-Laws Customs Thu, 16 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380306