https://www.taxtmi.com/caselaws?id=3776 The penalty imposed under Section 114 of the Customs Act, 1962 for misdeclaration of goods and excess drawback claimed was challenged. The Appellate Commissioner upheld the penalty initially imposed but reduced it from Rs.95,730/- to Rs.20,000/-. The reduction was justified based on the circumstances of the case, emphasizing that the penalty should align with the purpose of the law. The appellant's appeal was partly allowed, resulting in a reduced penalty amount. en-us Fri, 02 Nov 2007 00:00:00 +0530 Thu, 19 May 2022 16:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3776 The penalty imposed under Section 114 of the Customs Act, 1962 for misdeclaration of goods and excess drawback claimed was challenged. The Appellate Commissioner upheld the penalty initially imposed but reduced it from Rs.95,730/- to Rs.20,000/-. The reduction was justified based on the circumstances of the case, emphasizing that the penalty should align with the purpose of the law. The appellant's appeal was partly allowed, resulting in a reduced penalty amount. Case-Laws Customs Fri, 02 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3776