https://www.taxtmi.com/caselaws?id=780029 CESTAT held that importation of gold falls within the restricted/prohibited category and that nominated agencies bear responsibility to pay customs duty under the Notifications and bonds. The appellants, having executed agreements and largely deposited the duty which was appropriated, were liable for duty but could not be penalized under Section 112(a) for fraudulent diversion by exporters. Confiscation and redemption fine were set aside, and the extended period of limitation was not invoked due to lack of collusion. Bonds were cancelled on appropriation of duty. Appeal allowed in part. en-us Thu, 09 Oct 2025 00:00:00 +0530 Fri, 17 Oct 2025 08:08:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780029 CESTAT held that importation of gold falls within the restricted/prohibited category and that nominated agencies bear responsibility to pay customs duty under the Notifications and bonds. The appellants, having executed agreements and largely deposited the duty which was appropriated, were liable for duty but could not be penalized under Section 112(a) for fraudulent diversion by exporters. Confiscation and redemption fine were set aside, and the extended period of limitation was not invoked due to lack of collusion. Bonds were cancelled on appropriation of duty. Appeal allowed in part. Case-Laws Customs Thu, 09 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780029