https://www.taxtmi.com/caselaws?id=443043 The Tribunal found no merit in imposing penalties under Section 114 of the Customs Act on the appellants. The impugned order was set aside, and the appeals were allowed in favor of the appellants. The lack of specific investigation, proper substantiation, and the limited role of the approved banker led to the conclusion that penal provisions could not be invoked without sufficient evidence against the appellants. Compliance with RBI circulars and the post-exportation nature of the appellants' role further supported the Tribunal's decision in favor of the appellants. en-us Mon, 11 Sep 2023 00:00:00 +0530 Thu, 14 Sep 2023 22:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443043 The Tribunal found no merit in imposing penalties under Section 114 of the Customs Act on the appellants. The impugned order was set aside, and the appeals were allowed in favor of the appellants. The lack of specific investigation, proper substantiation, and the limited role of the approved banker led to the conclusion that penal provisions could not be invoked without sufficient evidence against the appellants. Compliance with RBI circulars and the post-exportation nature of the appellants' role further supported the Tribunal's decision in favor of the appellants. Case-Laws Customs Mon, 11 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443043