https://www.taxtmi.com/caselaws?id=126301 The Appellate Tribunal CESTAT, CHENNAI rejected the Revenue's application for a stay of the Commissioner's order imposing a fine and penalty for confiscation of Indian Currency without a valid permit. The Tribunal upheld the confiscation but reduced the fine to Rs. Five lakhs and the penalty to Rs. 1.50 lakhs, considering the procedural violation. The Tribunal dismissed the Revenue's appeal, partially allowed the respondent's cross-objection, and emphasized the importance of balancing regulatory compliance with case-specific circumstances. en-us Thu, 02 Apr 2009 00:00:00 +0530 Thu, 27 Jul 2017 09:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126301 The Appellate Tribunal CESTAT, CHENNAI rejected the Revenue's application for a stay of the Commissioner's order imposing a fine and penalty for confiscation of Indian Currency without a valid permit. The Tribunal upheld the confiscation but reduced the fine to Rs. Five lakhs and the penalty to Rs. 1.50 lakhs, considering the procedural violation. The Tribunal dismissed the Revenue's appeal, partially allowed the respondent's cross-objection, and emphasized the importance of balancing regulatory compliance with case-specific circumstances. Case-Laws Customs Thu, 02 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126301