https://www.taxtmi.com/caselaws?id=260727 The tribunal allowed the appeals of two individuals, reducing penalties imposed on the companies from Rs. 15 lakhs to Rs. 5 lakhs each. While the appellants were not directly involved in smuggling Red Sanders, their failure to comply with KYC norms rendered them liable for penalties under Section 114(i) of the Customs Act, 1962. The tribunal recognized the appellants' limited role and the specific circumstances, leading to a reduction in penalties. en-us Fri, 20 Mar 2015 00:00:00 +0530 Tue, 05 Jan 2016 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260727 The tribunal allowed the appeals of two individuals, reducing penalties imposed on the companies from Rs. 15 lakhs to Rs. 5 lakhs each. While the appellants were not directly involved in smuggling Red Sanders, their failure to comply with KYC norms rendered them liable for penalties under Section 114(i) of the Customs Act, 1962. The tribunal recognized the appellants' limited role and the specific circumstances, leading to a reduction in penalties. Case-Laws Customs Fri, 20 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260727