LAHORE: Customs Appellate Trbunal has modified the impugned order and reduced the penalty to Rs1,00,000 from Rs5,00,000 in case of M/s New Shalimar Steel Industries Private Limited against Colloctor of Customs Appraisment Dry Port Mughalpura Lahore.
According to the brief fact of case, during the stock taking the goods as tabulated in the show case notice were found available in the bonded warehouse and were cross checked with the monthly return.
It was also revealed that c M/s New Shalimar Steel Industries deliberately misused the facility of manufacturing bond with the mala fide intention.
On the contravention of laws customs authorities imposed a penalty of Rs79,75, 008 on New Shalimar Industries. The case was submitted for adjudication under the relevant provisions of the Customs Act 1969.
After fact reading the collector of customs (Adjudication) Lahore passed the order in origional that the customs authorities recover the evaded amount from the party with the penalty of Rs5,00,000.
Feeling aggrieved from the order the appellant filed the case before the Customs Appellate Tribunal on the grounds that the Section 32(1) ibid has been invoked in the impugned show case notice which is unlawful and he deposited all taxes and duties an the goods as per law.
On the other side the representatives of department argued in the favor of respective party.
After hearing the case Customs Appellate Tribunal modified the impugned order to decrease penalty of Rs5,00,000 to Rs1,00,000.
