https://www.taxtmi.com/caselaws?id=423060 The Tribunal upheld penalties imposed on the appellants under Sections 112(a) and 114AA of the Customs Act for involvement in improper yacht importation. While affirming liability, the Tribunal reduced penalties to 15% of the original amount due to appellants' roles as agents and lack of direct benefit from duty evasion. The Settlement Commission's order did not apply to the appellants. The decision partially allowed the appeals, modifying penalties based on appellants' involvement and benefit from the offense. en-us Mon, 28 Feb 2022 00:00:00 +0530 Sat, 28 May 2022 09:36:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423060 The Tribunal upheld penalties imposed on the appellants under Sections 112(a) and 114AA of the Customs Act for involvement in improper yacht importation. While affirming liability, the Tribunal reduced penalties to 15% of the original amount due to appellants' roles as agents and lack of direct benefit from duty evasion. The Settlement Commission's order did not apply to the appellants. The decision partially allowed the appeals, modifying penalties based on appellants' involvement and benefit from the offense. Case-Laws Customs Mon, 28 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423060