https://www.taxtmi.com/caselaws?id=762896 The tribunal set aside the penalties imposed on the appellant under Sections 112(a) and 114AA of the Customs Act, 1962, for misclassifying goods to obtain export incentives under the VKGUY scheme. The presiding member concluded that the penalties were unsustainable because the DGFT had not canceled the license, indicating no mala fide intention by the appellant. The appeal was allowed, and the penalties were dismissed, with the tribunal distinguishing the case from other judgments cited by the Revenue due to differing facts and issues. en-us Fri, 22 Nov 2024 00:00:00 +0530 Tue, 10 Dec 2024 08:58:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762896 The tribunal set aside the penalties imposed on the appellant under Sections 112(a) and 114AA of the Customs Act, 1962, for misclassifying goods to obtain export incentives under the VKGUY scheme. The presiding member concluded that the penalties were unsustainable because the DGFT had not canceled the license, indicating no mala fide intention by the appellant. The appeal was allowed, and the penalties were dismissed, with the tribunal distinguishing the case from other judgments cited by the Revenue due to differing facts and issues. Case-Laws Customs Fri, 22 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762896