Friday, 11 September 2015

No penalty for wrong classification of goods when Tribunals have different interpretations on this i

Excise & Customs : Evasion penalty cannot be levied in case of technical or venial breach of law or breach arising out of a bona fide belief; hence, evasion penalty cannot be levied in matters of classification, if issue was subject to differing interpretations by Tribunal and matter was resolved by Larger Bench

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