Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Levy of penalty - filing of the shipping bill fraudulently in the name of appellants - appellants before us are neither the exporters/ owners of the goods - there is no omission or commission hence penalty u/s 114 set aside - However penalty u/s 117 levied to deter appellants and signal to them to be more careful while conducting their business in relation to imports and exports of goods
Levy of penalty - filing of the shipping bill fraudulently in the name of appellants - appellants before us are neither the exporters/ owners of the goods - there is no omission or commission hence penalty u/s 114 set aside - However penalty u/s 117 levied to deter appellants and signal to them to be more careful while conducting their business in relation to imports and exports of goods
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