https://www.taxtmi.com/caselaws?id=167534 The Tribunal upheld the imposition of the penalty under Section 114 of the Customs Act, rejecting the appellant's arguments regarding the applicability of Section 117 and non-compliance with Section 11L provisions. It justified invoking the statutory presumption under Section 11M due to lack of precise particulars, leading to the penalty. The Tribunal ruled that separate show cause notices for each transaction were not required, and the enquiry conducted by the Additional Collector was deemed proper. Despite reducing the penalty from Rs. 25,000 to Rs. 20,000 based on the appellant's background, the appeal was dismissed, affirming the penalty imposition. en-us Thu, 02 May 1985 00:00:00 +0530 Tue, 23 Dec 2014 13:15:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=167534 The Tribunal upheld the imposition of the penalty under Section 114 of the Customs Act, rejecting the appellant's arguments regarding the applicability of Section 117 and non-compliance with Section 11L provisions. It justified invoking the statutory presumption under Section 11M due to lack of precise particulars, leading to the penalty. The Tribunal ruled that separate show cause notices for each transaction were not required, and the enquiry conducted by the Additional Collector was deemed proper. Despite reducing the penalty from Rs. 25,000 to Rs. 20,000 based on the appellant's background, the appeal was dismissed, affirming the penalty imposition. Case-Laws Customs Thu, 02 May 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=167534