https://www.taxtmi.com/caselaws?id=254267 The High Court upheld the Tribunal's decision to reduce the penalty to Rs. 10.00 lakhs under Section 114A of the Customs Act, finding no evidence of collusion or wilful misstatement by the importer. It was determined that the Tribunal had the discretion to reduce penalties imposed under Section 114A, as clear findings were necessary for such penalties. The penalty imposed on the Managing Director under Section 112(a) was upheld at Rs. 5,000 due to his involvement in the importation process, leading to a partial allowance of the appeals. en-us Fri, 03 Jan 2014 00:00:00 +0530 Wed, 17 Dec 2014 11:05:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254267 The High Court upheld the Tribunal's decision to reduce the penalty to Rs. 10.00 lakhs under Section 114A of the Customs Act, finding no evidence of collusion or wilful misstatement by the importer. It was determined that the Tribunal had the discretion to reduce penalties imposed under Section 114A, as clear findings were necessary for such penalties. The penalty imposed on the Managing Director under Section 112(a) was upheld at Rs. 5,000 due to his involvement in the importation process, leading to a partial allowance of the appeals. Case-Laws Customs Fri, 03 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254267