https://www.taxtmi.com/caselaws?id=97130 Penalty under Section 114(iii) of the Customs Act was not displaced merely because the excess drawback had been repaid before issue of the show cause notice. The Tribunal distinguished earlier authorities on facts and noted that the drawback had been obtained by misrepresentation of facts. It held that voluntary repayment of the unauthorised amount did not erase the statutory foundation for penalty where the provision expressly authorised such imposition. The challenge to the penalty therefore failed, and the penalty was sustained. en-us Thu, 07 Jun 2001 00:00:00 +0530 Sat, 14 Jan 2012 11:36:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97130 Penalty under Section 114(iii) of the Customs Act was not displaced merely because the excess drawback had been repaid before issue of the show cause notice. The Tribunal distinguished earlier authorities on facts and noted that the drawback had been obtained by misrepresentation of facts. It held that voluntary repayment of the unauthorised amount did not erase the statutory foundation for penalty where the provision expressly authorised such imposition. The challenge to the penalty therefore failed, and the penalty was sustained. Case-Laws Central Excise Thu, 07 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97130