Penalty u/s. 114 imposable on custom broker and intermediary for not fulfilling KYC requirement: CESTAT Kolkata

Arup Mukherjee Vs Commissioner of Customs (Port) (CESTAT Kolkata)

CESTAT Kolkata held that penalty u/s. 114 of the Customs Act imposable on customs broker and intermediary with regard to non-compliance of their duty of fulfilling KYC requirement. Accordingly, penalty reduced to INR 4 Lakhs.

Facts- The present proceedings are in pursuance of Order-in-Original dated 08.04.2016 passed with reference to Show Cause Notice issued u/s. 124 of the Customs Act, 1962 concerned with a case of attempted export of Red Sanders detected in Customs Transit Declaration (CTD)

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