https://www.taxtmi.com/caselaws?id=96412 Penalty under the Customs Act was sustained where the appellant's admissions and the findings below established unauthorised sale of duty-free imported silk, mis-declaration in export consignments, and conscious participation in the scheme as the controlling person of the concern. The Tribunal accepted the Commissioner's factual and jurisdictional findings, found no infirmity in them, and held that deliberate contravention and wilful misstatement justified the penalty. Financial hardship and economic necessity did not warrant reduction or interference, because they could not excuse dishonest customs evasion or the resulting revenue loss. The penalty was therefore upheld and confirmed. en-us Tue, 12 Jun 2001 00:00:00 +0530 Wed, 21 Dec 2011 15:21:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96412 Penalty under the Customs Act was sustained where the appellant's admissions and the findings below established unauthorised sale of duty-free imported silk, mis-declaration in export consignments, and conscious participation in the scheme as the controlling person of the concern. The Tribunal accepted the Commissioner's factual and jurisdictional findings, found no infirmity in them, and held that deliberate contravention and wilful misstatement justified the penalty. Financial hardship and economic necessity did not warrant reduction or interference, because they could not excuse dishonest customs evasion or the resulting revenue loss. The penalty was therefore upheld and confirmed. Case-Laws Customs Tue, 12 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96412