https://www.taxtmi.com/caselaws?id=788175 Penalty under section 114AA of the Customs Act was considered in a dispute over classification of exported services under the DGFT Explanatory Notes. The text states that the services were rendered to foreign entities, consideration was received in foreign exchange, and the classification issue between Group 86 and Group 84 was a bona fide interpretative dispute. It further notes that customs demand, interest, and DGFT penalty had already been paid, and that these circumstances did not justify wilful suppression. On that basis, the penalties imposed on the company and its Managing Director were set aside. en-us Fri, 13 Mar 2026 00:00:00 +0530 Wed, 18 Mar 2026 08:20:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788175 Penalty under section 114AA of the Customs Act was considered in a dispute over classification of exported services under the DGFT Explanatory Notes. The text states that the services were rendered to foreign entities, consideration was received in foreign exchange, and the classification issue between Group 86 and Group 84 was a bona fide interpretative dispute. It further notes that customs demand, interest, and DGFT penalty had already been paid, and that these circumstances did not justify wilful suppression. On that basis, the penalties imposed on the company and its Managing Director were set aside. Case-Laws Customs Fri, 13 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788175