2012 (4) TMI 145

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..... tainable - Held that:- as the applicants only financed the project and thereafter sold on default of payment had not violated the provisions of Customs Act -Pre-deposit penalty is waived and is stayed during pendency of the appeal. - Customs Appeal No.147 of 2011 - - - Dated:- 5-3-2012 - Mr. S.S. Kang, Mr. Mathew John, JJ. Shri G.S. Raikhy, Advocate for the appellants/applicants .....

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..... uty and are in the bonded warehouse. As the applicants cleared the goods to DTA, therefore, the applicants violated the provisions of Customs Act. 3. Keeping in view the facts and circumstances of the case, as the applicants only financed the project of Perfect Gold India Ltd. and thereafter sold on default of payment, prima facie, we find that the applicants had not violated the provisions of .....

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