https://www.taxtmi.com/caselaws?id=239217 The Tribunal granted the appellant waiver of predeposit and stay of recovery for penalties under Sections 114(i) and 114AA of the Customs Act related to misdeclaration of goods. The penalty was reduced from Rs.10 lakhs to Rs.3 lakhs by the Commissioner (Appeals) for 125 MTs of Muriate of Potash. The Tribunal directed the surplus amount to be applied towards predeposit and ordered a further deposit of Rs.1 lakh. An appeal against the reduced penalty was pending, with instructions for consolidation of both appeals. Compliance with deposit requirements was mandated for penalty waiver and stay. en-us Wed, 20 Mar 2013 00:00:00 +0530 Fri, 08 Nov 2013 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239217 The Tribunal granted the appellant waiver of predeposit and stay of recovery for penalties under Sections 114(i) and 114AA of the Customs Act related to misdeclaration of goods. The penalty was reduced from Rs.10 lakhs to Rs.3 lakhs by the Commissioner (Appeals) for 125 MTs of Muriate of Potash. The Tribunal directed the surplus amount to be applied towards predeposit and ordered a further deposit of Rs.1 lakh. An appeal against the reduced penalty was pending, with instructions for consolidation of both appeals. Compliance with deposit requirements was mandated for penalty waiver and stay. Case-Laws Customs Wed, 20 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239217