https://www.taxtmi.com/caselaws?id=93021 The Tribunal upheld the liability to penalty under Section 112 of the Act for under-valuation of goods by the proprietor of M/s. Neptune D'ecor. Despite the appellant's argument that the goods were not under-valued, evidence supported the under-valuation claim. The Tribunal found the goods misdeclared, leading to confiscation under Section 111 of the Act. However, due to mitigating factors and excessive penalty imposition, the penalty was reduced from Rs. 25.00 lakhs to Rs. 2.00 lakhs, partially allowing the appeal. en-us Thu, 19 Aug 1999 00:00:00 +0530 Mon, 07 Nov 2011 17:17:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=93021 The Tribunal upheld the liability to penalty under Section 112 of the Act for under-valuation of goods by the proprietor of M/s. Neptune D'ecor. Despite the appellant's argument that the goods were not under-valued, evidence supported the under-valuation claim. The Tribunal found the goods misdeclared, leading to confiscation under Section 111 of the Act. However, due to mitigating factors and excessive penalty imposition, the penalty was reduced from Rs. 25.00 lakhs to Rs. 2.00 lakhs, partially allowing the appeal. Case-Laws Customs Thu, 19 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=93021