2001 (8) TMI 212 - AT - Customs

Summary

The Appellate Tribunal CEGAT, Mumbai heard applications for waiver of penalties imposed on Naresh Shah and Mahesh Ganatra under Section 112 of the Act for aiding in obtaining advance licences by misrepresentation. The Tribunal found that the penalties imposed did not attract the provisions of the Customs Act as there was no direct involvement in the import of goods. Naresh Shah had already deposited a portion of the penalty, and Mahesh Ganatra's role was more of an introducer. The Tribunal waived the penalties and stayed their recovery.