TaxTMI 
TaxTMI 
2005 (6) TMI 377
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....ondent. [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 appellants filed certain Bills of Entry for ....
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.... 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 Commissioner for permission to re-exp....
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....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 Bills of Entry. They on finding the goo....