https://www.taxtmi.com/caselaws?id=239159 The Appellate Tribunal CESTAT BANGALORE directed the appellant to predeposit 50% of a penalty of Rs. 5,00,000 imposed under Section 114 of the Customs Act within six weeks, in relation to the confiscation of Indian currencies exceeding Rs. 73,00,000. The waiver and stay of the remaining penalty amount were contingent upon this deposit and compliance with the directive. This decision emphasizes the necessity of predeposit requirements in Customs Act penalty cases, ensuring accountability and adherence to established procedures, while also allowing for mitigation through compliance with the tribunal's directive. en-us Mon, 11 Mar 2013 00:00:00 +0530 Thu, 07 Nov 2013 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239159 The Appellate Tribunal CESTAT BANGALORE directed the appellant to predeposit 50% of a penalty of Rs. 5,00,000 imposed under Section 114 of the Customs Act within six weeks, in relation to the confiscation of Indian currencies exceeding Rs. 73,00,000. The waiver and stay of the remaining penalty amount were contingent upon this deposit and compliance with the directive. This decision emphasizes the necessity of predeposit requirements in Customs Act penalty cases, ensuring accountability and adherence to established procedures, while also allowing for mitigation through compliance with the tribunal's directive. Case-Laws Customs Mon, 11 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239159