https://www.taxtmi.com/caselaws?id=351167 The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) reduced the penalty imposed under Section 114(iii) of the Customs Act, 1962, from Rs. 29,82,729 to Rs. 1 lakh each for the parties involved in a case concerning a discrepancy in an export consignment. The Tribunal considered the voluntary disclosure of the error and lack of intentional suppression, leading to a justified reduction in the penalty amount. The Court affirmed the Tribunal's decision, ruling in favor of the respondent and dismissing the appeal for lacking merit. en-us Mon, 10 Apr 2017 00:00:00 +0530 Tue, 21 Nov 2017 08:48:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351167 The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) reduced the penalty imposed under Section 114(iii) of the Customs Act, 1962, from Rs. 29,82,729 to Rs. 1 lakh each for the parties involved in a case concerning a discrepancy in an export consignment. The Tribunal considered the voluntary disclosure of the error and lack of intentional suppression, leading to a justified reduction in the penalty amount. The Court affirmed the Tribunal's decision, ruling in favor of the respondent and dismissing the appeal for lacking merit. Case-Laws Customs Mon, 10 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351167