2011 (8) TMI 1077

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....ieved by the order dated 25-1-2000 of CESTAT, the respondent was issued with a show cause notice calling upon the assessee to show cause as to why, (a)      the goods viz., raw mulberry silk imported under licence Nos. 3290797, dated 1-9-1994: 32981716, dated 15-3-1995 and 3291717, dated 15-2-1995 totally valued at Rs. 1,21,68,287/- as detailed in para 2 of the notice s....

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....Act." 2. That show cause notice was issued on the basis that the assessee had diverted the imported raw silk which was duty free imported goods under Advance Licence Scheme and after due process of law, the Commissioner of Customs (Seaport) Chennai passed the impugned order confirming the Customs duty of Rs. 36,50,486/- along with interest and also imposed penalty of Rs. 5 lakhs each of tw....

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....ot, we are not inclined to consider whether the penalty could be imposed based on the statement of the co-accused in the absence of any corroborative evidence. The CESTAT had relied upon the following judgment of the Tribunal to hold that penalty cannot be imposed based on the statement of co-accused or co-noticee in the absence of corroborative evidence. In fact, a similar view taken by the Tribu....