https://www.taxtmi.com/caselaws?id=250061 Section 114A of the Customs Act, 1962 imposes a mandatory penalty equal to the duty or interest determined once the statutory conditions are satisfied, leaving no discretion to reduce the prescribed quantum. Where misdeclaration is found and the duty demand under Section 28 is sustained, adjudicatory bodies must apply the statutory measure of penalty as enacted. On that basis, reduction of the penalty by the Tribunal was inconsistent with the scheme of Section 114A, and the Revenue's challenge succeeded on that issue. en-us Thu, 17 Jul 2014 00:00:00 +0530 Mon, 12 Jan 2015 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250061 Section 114A of the Customs Act, 1962 imposes a mandatory penalty equal to the duty or interest determined once the statutory conditions are satisfied, leaving no discretion to reduce the prescribed quantum. Where misdeclaration is found and the duty demand under Section 28 is sustained, adjudicatory bodies must apply the statutory measure of penalty as enacted. On that basis, reduction of the penalty by the Tribunal was inconsistent with the scheme of Section 114A, and the Revenue's challenge succeeded on that issue. Case-Laws Customs Thu, 17 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250061