2013 (12) TMI 233

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..... authorization, penalty cannot be imposed under Section 112(a) of the Customs Act. For lending of IEC, there is no violation of the Customs Act and if at all any violation is found only Foreign Trade (Development and Regulation) Act will apply and under Customs Act no penalty can be imposed - applicant has agreed to make the pre-deposit of differential duty - Therefore applicant directed to make t .....

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..... hat M/s. Arahaman Traders was the IEC holder and goods were actually imported by M/s. T.M. Rahmathullah. The CHA namely M/s. A.M. Ahamed Co. undertook the job of clearance of the consignment. A penalty of Rs. 70,000/- has been imposed on the CHA for not having proper authorization for clearance of the goods under Section 112(a) of the Customs Act, 1962. On IEC holder, a penalty of Rs. 1.50 lakhs .....

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..... within four weeks and report compliance on 11-9-2012. On such compliance, penalty shall remain waived during the pendency of the appeal. The CHA (A.M. Ahamed Co.) and the IEC holder (Arahaman) have made out the case of waiver of pre-deposit, therefore pre-deposit is waived and stayed recovery thereof during the pendency of the appeals. (Dictated and pronounced in open Court) - - TaxTMI - T .....

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