https://www.taxtmi.com/caselaws?id=89655 The Tribunal upheld the penalty imposed under Section 114 of the Customs Act, 1962 but reduced it from Rs. 10 lakhs to Rs. 2 lakhs. Despite the appellant's denial and efforts to distance himself, substantial evidence, including statements from co-accused and recovered documents, established his involvement in the scheme of substituting real diamonds with synthetic stones in export consignments. Mitigating factors led to the reduced penalty, recognizing the lack of direct evidence implicating the appellant compared to others involved. en-us Mon, 30 Nov 1998 00:00:00 +0530 Wed, 28 Sep 2011 17:00:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=89655 The Tribunal upheld the penalty imposed under Section 114 of the Customs Act, 1962 but reduced it from Rs. 10 lakhs to Rs. 2 lakhs. Despite the appellant's denial and efforts to distance himself, substantial evidence, including statements from co-accused and recovered documents, established his involvement in the scheme of substituting real diamonds with synthetic stones in export consignments. Mitigating factors led to the reduced penalty, recognizing the lack of direct evidence implicating the appellant compared to others involved. Case-Laws Customs Mon, 30 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=89655