https://www.taxtmi.com/caselaws?id=757644 CESTAT Mumbai set aside the revocation of customs broker license, forfeiture of security deposit, and penalty imposed by Principal Commissioner of Customs. The tribunal found no evidence supporting allegations of mis-declaration and under-valuation of imports. Appellants had complied with KYC requirements under Regulation 10(n) by obtaining proper documents and verification. The inquiry proceedings violated prescribed timelines, taking 13 months instead of required 90 days. Procedural non-compliance with Regulation 17 rendered the order legally unsustainable. Appeal allowed in favor of appellant. en-us Mon, 05 Aug 2024 00:00:00 +0530 Fri, 30 Aug 2024 08:37:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757644 CESTAT Mumbai set aside the revocation of customs broker license, forfeiture of security deposit, and penalty imposed by Principal Commissioner of Customs. The tribunal found no evidence supporting allegations of mis-declaration and under-valuation of imports. Appellants had complied with KYC requirements under Regulation 10(n) by obtaining proper documents and verification. The inquiry proceedings violated prescribed timelines, taking 13 months instead of required 90 days. Procedural non-compliance with Regulation 17 rendered the order legally unsustainable. Appeal allowed in favor of appellant. Case-Laws Customs Mon, 05 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757644