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The judgment by Appellate Tribunal CEGAT, Mumbai involved a waiver of penalty and fine for an importer of steel sheets. The importer had licenses for duty exemption but faced confiscation due to discrepancies in shipping dates. The Tribunal found doubts regarding confiscation liability and accepted a partial cash deposit with a bank guarantee, waiving the penalty and staying its recovery. The goods were allowed to be cleared upon deposit and bank guarantee execution.
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