https://www.taxtmi.com/caselaws?id=113130 Penalty for alleged misdeclaration could not be sustained where the assessee paid duty on the value declared by the trader under the notified procedure, and the record showed no basis to infer knowledge of a wilful misdeclaration or any connivance. In the absence of evidence of collusion between the assessee and the trader, the essential foundation for penalty was missing. The order dropping the penalty was therefore upheld and the department's challenge failed. en-us Tue, 18 Jul 2000 00:00:00 +0530 Thu, 03 May 2012 18:46:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113130 Penalty for alleged misdeclaration could not be sustained where the assessee paid duty on the value declared by the trader under the notified procedure, and the record showed no basis to infer knowledge of a wilful misdeclaration or any connivance. In the absence of evidence of collusion between the assessee and the trader, the essential foundation for penalty was missing. The order dropping the penalty was therefore upheld and the department's challenge failed. Case-Laws Central Excise Tue, 18 Jul 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113130