The Customs, Excise & Service Tax Appellate Tribunal (CESTAT), Ahmedabad Bench, has reduced the penalty on importers for alleged diversion of computerized embroidery machines against dummy IEC, EPCG licences holders. The bench of Somesh Arora (Judicial Member) has observed that the penalty imposed under Section 112(a) of 1,00,000/- is being reduced to Rs. 50,000/- and…
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