https://www.taxtmi.com/highlights?id=23503 Reduction of penalty - no reason whatsoever is given for reducing the penalty from ₹ 20 lakhs to ₹ 1 lakh except observing that it "appears to be excessive". - the breach has been committed by the respondent. More serious breach is the violation of undertaking given to this Court - Penalty not to be reduced - SC en-us Thu, 25 Jun 2015 10:01:20 +0530 Thu, 25 Jun 2015 10:01:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=23503 Reduction of penalty - no reason whatsoever is given for reducing the penalty from ₹ 20 lakhs to ₹ 1 lakh except observing that it "appears to be excessive". - the breach has been committed by the respondent. More serious breach is the violation of undertaking given to this Court - Penalty not to be reduced - SC Highlights Customs Thu, 25 Jun 2015 10:01:20 +0530 https://www.taxtmi.com/highlights?id=23503