Imported Scrap Penalty Overturned: Precedent Case Leads to Penalty Reversal Under Section 112(b) of Customs Act

CESTAT adjudicated a customs penalty case involving imported scrap, finding the appellant's situation substantially similar to a prior case (M/s. Agarwal Metal and Alloys) where co-accused were absolved of undervaluation charges. Given the factual parallels, the tribunal set aside the Rs. 2,00,000 penalty imposed under Section 112(b) of the Customs Act, 1962. The appeal was allowed, effectively exonerating the appellant from the original penalty based on the precedential treatment of similarly situated parties in the earlier judicial determination. .....

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