Appellate Tribunal set aside penalties imposed on licensed money ...

Tribunal Overturns Penalties Against Money Exchanger Due to Lack of Evidence for Customs Act Violations.

August 5, 2024

Case Laws Customs AT

Appellate Tribunal set aside penalties imposed on licensed money exchanger for alleged illegal export of currency and import of gold. Observed no evidence of illegal exports/imports or violation of Customs Act. Held exchanging currency without invoice, though violating license conditions, cannot be termed illegal export/import. Penalties wrongly imposed under Customs Act Sections 114, 114AA, 117 and FEMA Act Section 13 without mentioning reasons. Appeal allowed.

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Appellate Tribunal set aside penalties imposed on licensed money ...

Tribunal Overturns Penalties Against Money Exchanger Due to Lack of Evidence for Customs Act Violations.

August 5, 2024

Case Laws Customs AT

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