Levy of penalty on the Director of the Company - Valuation of imported goods - import of luxury vehicles...

Levy of penalty on the Director of the Company - Valuation of imported goods - import of luxury vehicles by misusing the Transfer of Residence (TR) Scheme - The Tribunal observed that the company involved in purchasing the vehicle was an independent legal entity, and the penalties primarily targeted the company rather than the individual appellants. - It was noted that there were no clear allegations against the individual appellants regarding their direct involvement in the import violation. The penalties primarily targeted the company's actions. - the Tribunal set aside the penalties imposed on the appellants, stating that they were eligible for consequential relief. .....

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