Home Case Index All Cases Customs Customs + HC Customs - 2013 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (1) TMI 620 - HC - CustomsPenalty on non fulfillment of export obligation in respect of the value based advance license - Held that:- As there was a scheme of arrangement dated 17 December 1992, under which a division of Apar Limited was spun off to Apar Lamps Private Limited, which came to be named on 22 January 1993 as GE Apar Lighting Private Limited. The sequence of events in the present case took place shortly thereafter, the export having taken place within six months thereafter. Under the terms of the Exim Policy 1992-1997, both a merchant exporter or manufacturer exporter would otherwise be eligible for duty free licenses on certain conditions. There is no dispute about the fact that exports have been made and that foreign exchange has been realized. In this view of the matter,the imposition of a penalty in the amount of ₹ 5.60 lakhs is disproportionate. Ends of justice would be met if the penalty which has been imposed by the adjudicating authority is reduced to an amount of ₹ 1.00 lakhs. The order of the adjudicating authority as confirmed in appeal, shall stand modified accordingly.
|