Closure letter was issued: CESTAT sets aside Penalty

Makwuds India Private Limited Vs Commissioner of Customs (CESTAT Chennai) In the order above-mentioned CESTAT allowed appeal of the assessee and held that that closure letter was already issued by the authority. Appeal filed against the order-in-original wherein duty exemption availed by assessee against EPCG authorization for the import of goods under notification 97/2004 dt. 17.09.2004, were denied. AA (Adjudicating Authority) demanded custom duty of Rs. 1,13,36,651/- and interest and ordered confiscation of the capital goods u/s 111(o), giving option of redemption on the payment of redempti...