Relief to Citibank: CESTAT quashes Penalty imposed u/s 112 Customs Act on purchase of ATMs made within India [Read Order]

CESTAT - Citibank - Penalty - CESTAT quashes Penalty - Customs Act - ATM - taxscan

The Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) at Mumbai has recently held that the penalty under Section 112 of the Customs Act, 1962 is not valid for purchase of ATMs and Controllers for ATMs for mis-declaration of description and value of goods. Citibank is engaged in carrying on activities of banking…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1199 + GST for 1 year

Subscribe Now

taxscan-loader