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2016 (11) TMI 681 - HC - CustomsImposition of penalty - 100% EOU - mis-declaration of imported goods - Held that: - the tax arrears of the Directors and officers of a company can be proceeded with independently, if they do not join it in making an application. This case, however, it is not tax arrears which are in dispute but the penalty which is wholly dependent upon the findings that led to the tax arrears (which has not been settled by the company) in the part of other three petitioners. Secondly, and more importantly, the Supreme Court clearly stated that object of the removal of difficulties order in respect of the scheme was to give benefit of settlement by the main parties to all other co-noticees - imposition of penalty set aside - appeal allowed.
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