https://www.taxtmi.com/highlights?id=76327 Levy of penalty on the Director of the Company - Valuation of imported goods - import of luxury vehicles by misusing the Transfer of Residence (TR) Scheme - The Tribunal observed that the company involved in purchasing the vehicle was an independent legal entity, and the penalties primarily targeted the company rather than the individual appellants. - It was noted that there were no clear allegations against the individual appellants regarding their direct involvement in the import violation. The penalties primarily targeted the company's actions. - the Tribunal set aside the penalties imposed on the appellants, stating that they were eligible for consequential relief. en-us Thu, 04 Apr 2024 05:14:18 +0530 Thu, 04 Apr 2024 05:14:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=76327 Levy of penalty on the Director of the Company - Valuation of imported goods - import of luxury vehicles by misusing the Transfer of Residence (TR) Scheme - The Tribunal observed that the company involved in purchasing the vehicle was an independent legal entity, and the penalties primarily targeted the company rather than the individual appellants. - It was noted that there were no clear allegations against the individual appellants regarding their direct involvement in the import violation. The penalties primarily targeted the company's actions. - the Tribunal set aside the penalties imposed on the appellants, stating that they were eligible for consequential relief. Highlights Customs Thu, 04 Apr 2024 05:14:18 +0530 https://www.taxtmi.com/highlights?id=76327