LAHORE: The Customs Appellate Tribunal has dismissed the appeal filed by M/s Mughal Iron and Steel Industries Lahore against Assistant Collector of Customs Lahore.
Justice (r) Malik Manzoor Hussain, Chairman Customs Appellate Tribunal finally remarked that the petitioner had failed to justify as to why the finished products were not shown to the team at the time of inspection. All was done by the team in the presence of finance officer of the appellant, who duly signed the report so, the substance of complainant is not valid.
As as per the show cause notice the staff the MBCO section was conducted the raid and stock taking of the M/s Mughal Iron and Steel Industries. During the stock taking officer found 8728 metric ton of imported steel square billets, 108 metric tons of Ferro Silicon Managanese and 1566 metric tons of Girders and the appellant availing the facility of manufacturing bonds in terms of chapter XV of SRO 450(I)/2015.
The stock taking report prepared report in the presence of finance officer of the unit and due to some violations department team charged Rs 807581 in duties and taxes.
Show cause notice stands established and order for the immediate recovery of the duties and taxes along with penalty of three time of the value of the goods was imposed for the mis-declaration under section 35(1) of customs act 1969.
Being aggrieved and appellant filed the case before the Customs Appellate Tribunal for the hearing of case. Tribunal heard the case in detail and dismissed the appeal by the M/s Mughal Iron and Steel Industries.
