Appellant on the basis of that imported companysignment vide Bill of Entry number 881 dated 30.3.1994.
However, Commissioner of Customs Import companyfirmed the demand along with interest and penalty of Rupees One lakh.
Same was purchased on 20.4.1994.
Noticee denied the allegations.
As the goods were number available penalties of Rs.
3 lakhs and Rs.
203/92 Cus dated 19.05.1992.
In view of divergence of views, the matter was referred to a larger Bench of the Tribunal.
Dr. ARIJIT PASAYAT,J. Heard.
Challenge in this appeal is to the order passed by Customs, Excise Service Tax Appellate Tribunal, West Zonal Bench, Mumbai in short CESTAT allowing the appeal filed by the appellant.
Background facts in a nutshell are as follows Appellant acquired and or purchased transferable Value Based Advance Licenses in short VABAL including a license dated 19.1.1993 i94ssued in the name of M s. Amar Taran Exports, New Delhi.
16,74,702/ companyld number be recovered and demanded in terms of proviso to Section 28 1 of the Customs Act, 1962 in short 2 the Act for alleged companytravention of certain companyditions of Notification No.
