https://www.taxtmi.com/caselaws?id=54556 The Appellate Tribunal CESTAT, New Delhi allowed the appeal of the appellants challenging the duty demand confirmed by the Commissioner of Customs. The Tribunal held that the appellants were not liable for penal action under Section 112 of the Customs Act as there was no evidence of their involvement in the fraudulent acquisition of DEPB scrips. Additionally, the Tribunal referenced a Bombay High Court case to support its decision that goods imported without knowledge of fraud by the original license holder should not be subjected to customs duty. The impugned order was set aside, and the appeal was allowed, emphasizing the importance of bona fide transactions in customs matters. en-us Wed, 01 Jun 2005 00:00:00 +0530 Wed, 20 Oct 2010 17:18:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54556 The Appellate Tribunal CESTAT, New Delhi allowed the appeal of the appellants challenging the duty demand confirmed by the Commissioner of Customs. The Tribunal held that the appellants were not liable for penal action under Section 112 of the Customs Act as there was no evidence of their involvement in the fraudulent acquisition of DEPB scrips. Additionally, the Tribunal referenced a Bombay High Court case to support its decision that goods imported without knowledge of fraud by the original license holder should not be subjected to customs duty. The impugned order was set aside, and the appeal was allowed, emphasizing the importance of bona fide transactions in customs matters. Case-Laws Customs Wed, 01 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54556