TaxTMI 
TaxTMI 
2005 (6) TMI 377
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....P.M. Rao, JDR, for the Respondent. [Order]. - The above captioned appeals have been directed by the appellants against the impugned orders-in-original vide which the Commissioner of Customs as adjudicating authority has imposed penalties on them as detailed therein, under Section 112 of the Customs Act. 2.  I have heard both the sides. From the record, it is evident that appell....
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....ppellants, informed the suppliers that the goods sent by them were not of standard specifications who admitted their fault/lapse in that regard and undertook to replace the goods, vide their letters dated 9-1-98 and 17-1-98. Thereafter, the appellants issued necessary instructions to their bankers to stop payment against the L/C, against which the goods were imported. They also made request to the....
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....ot inferred from the letter dated 3-1-98 vide which the appellants informed the customs authority that the goods were immediately required by them for various developmental work and for utilization in various upcoming contracts for web-page designing and development, that they were interested in draining out the foreign exchange from India. At that time, there had been no final assessment on the B....