https://www.taxtmi.com/caselaws?id=211264 The Tribunal upheld the penalty on M/s. Meerut Exim under Section 114A of the Customs Act, 1962, amounting to Rs. 1,18,17,739. The penalty on Shri Ashwani Kumar Jain under Section 112 was upheld but reduced to Rs. 25,00,000. The penalty on Shri Balbir Singh Sethi under Section 112 was also upheld but reduced to Rs. 10,00,000. The redemption fine of Rs. 50,00,000 on goods not available for confiscation was set aside. en-us Fri, 08 Apr 2011 00:00:00 +0530 Mon, 12 Mar 2012 13:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211264 The Tribunal upheld the penalty on M/s. Meerut Exim under Section 114A of the Customs Act, 1962, amounting to Rs. 1,18,17,739. The penalty on Shri Ashwani Kumar Jain under Section 112 was upheld but reduced to Rs. 25,00,000. The penalty on Shri Balbir Singh Sethi under Section 112 was also upheld but reduced to Rs. 10,00,000. The redemption fine of Rs. 50,00,000 on goods not available for confiscation was set aside. Case-Laws Customs Fri, 08 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211264