https://www.taxtmi.com/caselaws?id=765480 The CESTAT Bangalore held that duty demand was upheld against appellants who imported goods using fraudulently obtained DEPB scrips, where the original license holder had mis-declared Potassium Chloride as Industrial Salt. However, penalty under section 114A of Customs Act, 1962 was set aside as appellants were unaware of the fraudulent nature of the DEPB licenses at the time of import. The tribunal distinguished between duty liability and penalty imposition based on knowledge of fraud. Appeal was allowed in part with duty demand and interest upheld but penalty removed. en-us Wed, 29 Jan 2025 00:00:00 +0530 Sat, 01 Feb 2025 08:41:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765480 The CESTAT Bangalore held that duty demand was upheld against appellants who imported goods using fraudulently obtained DEPB scrips, where the original license holder had mis-declared Potassium Chloride as Industrial Salt. However, penalty under section 114A of Customs Act, 1962 was set aside as appellants were unaware of the fraudulent nature of the DEPB licenses at the time of import. The tribunal distinguished between duty liability and penalty imposition based on knowledge of fraud. Appeal was allowed in part with duty demand and interest upheld but penalty removed. Case-Laws Customs Wed, 29 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765480