2004 (4) TMI 437 - AT - Customs

Summary

The Appellate Tribunal CESTAT, Chennai confirmed a duty demand of over Rs. 30 lakhs against the applicants and imposed a penalty of Rs. 1 lakh under Section 112 of the Customs Act, 1962. The Tribunal waived the pre-deposit and stayed the recovery of the duty and penalty amounts until the appeal's final disposal based on a clarificatory order from the Jt. DGFT showing compliance with relevant notifications for duty-free import of raw materials under the DEEC Scheme.