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2010 (1) TMI 472 - HC - CustomsEPCG Scheme - Penalty on sick unit. The petition is filed questioning the order passed by the second respondent, rejecting the appeal filed by the petitioner on the ground that recommendations of the BIFR provide only for waiver of customs duty and did not concern the fiscal penalty imposed under the Foreign Trade (Development and Regulation) Act, 1992. Held that - BIFR recommendation not challenged by the respondent and the same attained finality. Waiver of penalty can be considered. Penalty waiver to be considered by Ministry of Finance and not DGFT. Penalty not recoverable till Finance Ministry takes decision on waiver thereof. Refund of amount deposited ordered.
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