https://www.taxtmi.com/caselaws?id=314506 CESTAT Mumbai held that importer was not liable for penalty under Section 114AA for misclassification of tape ribbons as cotton instead of polyester, as appellant declared goods per supplier's documents and made payments accordingly. Foreign supplier admitted error in shipping polyester goods against cotton invoice. While goods remained liable for confiscation under Section 111 due to incomplete descriptions, redemption fine was reduced from Rs. 1,50,000 to Rs. 50,000 and penalty from Rs. 60,000 to Rs. 30,000, considering appellant's good faith and supplier's admitted error. en-us Fri, 06 May 2022 00:00:00 +0530 Sat, 15 Jun 2024 08:23:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314506 CESTAT Mumbai held that importer was not liable for penalty under Section 114AA for misclassification of tape ribbons as cotton instead of polyester, as appellant declared goods per supplier's documents and made payments accordingly. Foreign supplier admitted error in shipping polyester goods against cotton invoice. While goods remained liable for confiscation under Section 111 due to incomplete descriptions, redemption fine was reduced from Rs. 1,50,000 to Rs. 50,000 and penalty from Rs. 60,000 to Rs. 30,000, considering appellant's good faith and supplier's admitted error. Case-Laws Customs Fri, 06 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314506