2024 (8) TMI 1162 - SCH - Customs

Quantum of penalty - use of his IEC code for import to be made by Sh. Rajan Arora - it was held by High Court that ' We note that it is the undisputed position that the appellant had lent the Importer Exporter Code IEC for the purposes of facilitating import. Bearing in mind the fact that there was no connivance, the CESTAT had found it fit to reduce the penalty imposed on the appellant from Rs. 12 lakhs to Rs.50,000/-.' HELD THAT - It is not required to interfere with the impugned judgment and order passed by the High Court of Delhi at New Delhi - appeal dismissed.