2011 (8) TMI 787

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....dgment per : N. Kumar, J.]. -  The revenue has preferred this appeal challenging the order passed by the Tribunal [2006 (198) E.L.T. 41 (Tri. - Bang.)], which has set aside the penalty imposed on the assessee. 2. The assessee imported goods on free of customs duty under the Advance Licensing Scheme in terms of Notification No. 30/1997, dated 1-4-1997. The duty foregone by the revenue i....

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..... 60,000/-. The duty foregone on the imported goods amounting to Rs. 61,84,758/- was demanded under Section 28(1) of the Act with interest and penalty was also imposed. Aggrieved by the same, the assessee preferred an appeal to the Tribunal. The Tribunal held due to the recession in the industry and also labour problem, the assessee was not in a position to fulfil the export obligation in time. 3....

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....uncalled for. Therefore, it set aside the said order. 4. We have heard the learned Counsel appearing for the appellant. 5. In the facts of the case, we are satisfied that the approach of the Tribunal is just and proper. The assessee has fulfilled the export obligation though belatedly. He has not preferred any appeal against the order of confiscating goods. In fact by a paper publicati....