https://www.taxtmi.com/caselaws?id=208030 The Government upheld the imposition of a personal penalty of Rs. 5 lakhs under Section 114(iii) of the Customs Act, 1962, due to the applicant's willful intention to avail the drawback facility despite being aware of irregularities. However, recognizing the applicant's voluntary repayment and lack of fraudulent intent, the penalty was reduced to Rs. 1.50 lakhs. The decision balanced the irregularity with the applicant's cooperation and corrective actions, ultimately modifying the penalty amount in the applicant's favor. en-us Mon, 03 May 2010 00:00:00 +0530 Tue, 03 Jan 2012 08:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208030 The Government upheld the imposition of a personal penalty of Rs. 5 lakhs under Section 114(iii) of the Customs Act, 1962, due to the applicant's willful intention to avail the drawback facility despite being aware of irregularities. However, recognizing the applicant's voluntary repayment and lack of fraudulent intent, the penalty was reduced to Rs. 1.50 lakhs. The decision balanced the irregularity with the applicant's cooperation and corrective actions, ultimately modifying the penalty amount in the applicant's favor. Case-Laws Customs Mon, 03 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208030