https://www.taxtmi.com/circulars?id=1430 Penalty under section 114A of the Customs Act, 1962 should be assessed to include both duty and interest; the Ministry of Law advised that the disjunctive conjunction "or" may be read as "and" to give effect to legislative intent, and field formations should apply this construction when imposing penalties for collusion, willful misstatement, or suppression of facts and issue Standing Orders accordingly. en-us Fri, 20 Sep 2002 00:00:00 +0530 Sun, 20 Jan 2008 18:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1430 Penalty under section 114A of the Customs Act, 1962 should be assessed to include both duty and interest; the Ministry of Law advised that the disjunctive conjunction "or" may be read as "and" to give effect to legislative intent, and field formations should apply this construction when imposing penalties for collusion, willful misstatement, or suppression of facts and issue Standing Orders accordingly. Circulars Customs Fri, 20 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1430