https://www.taxtmi.com/caselaws?id=763457 CESTAT Chennai upheld duty demand against appellants who failed to fulfill post-importation conditions under exemption notification. Tribunal confirmed department's power to recover escaped duty under Section 12 of Customs Act, 1962, citing Bombay Hospital Trust precedent. Confiscation of imported goods under Section 111(o) and redemption fine under Section 125 sustained for non-fulfillment of export obligation, following SC ruling in Weston Components Ltd. Penalties reduced to Rs.5,00,000 for first appellant and Rs.2,00,000 each for remaining appellants deemed reasonable. Appeal dismissed. en-us Tue, 17 Dec 2024 00:00:00 +0530 Thu, 19 Dec 2024 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763457 CESTAT Chennai upheld duty demand against appellants who failed to fulfill post-importation conditions under exemption notification. Tribunal confirmed department's power to recover escaped duty under Section 12 of Customs Act, 1962, citing Bombay Hospital Trust precedent. Confiscation of imported goods under Section 111(o) and redemption fine under Section 125 sustained for non-fulfillment of export obligation, following SC ruling in Weston Components Ltd. Penalties reduced to Rs.5,00,000 for first appellant and Rs.2,00,000 each for remaining appellants deemed reasonable. Appeal dismissed. Case-Laws Customs Tue, 17 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763457