2005 (1) TMI 529 - AT - Customs

Summary

The Appellate Tribunal CESTAT, Mumbai waived the pre-deposit of penalties of Rs. 12 lakhs on Shri Pravin Gupta and Rs. 15 lakhs on Shri Ravi Divecha imposed under Section 112 (i) of the Customs Act, 1962. The penalties were imposed for involvement in concealing imported goods without filing a Bill of Entry, but since no misdeclaration occurred, the penalties were waived pending appeals.