https://www.taxtmi.com/caselaws?id=354362 The Tribunal reduced penalties imposed under Sections 112(a) and 114 AA of the Customs Act, 1962 on the appellants for mis-declaration and import of restricted goods. The penalties were lowered from Rs. 10.00 Lakh to Rs. 5.00 Lakh and from Rs. 20.00 Lakh to Rs. 10.00 Lakh for the importer, while the penalty of Rs. 15.00 Lakh was reduced to Rs. 10.00 Lakh for the abettor. The Tribunal justified the reduction based on the goods not being released to the appellants for use or sale, and the abettor not benefiting from the confiscated goods. en-us Wed, 10 Jan 2018 00:00:00 +0530 Thu, 25 Jan 2018 09:52:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354362 The Tribunal reduced penalties imposed under Sections 112(a) and 114 AA of the Customs Act, 1962 on the appellants for mis-declaration and import of restricted goods. The penalties were lowered from Rs. 10.00 Lakh to Rs. 5.00 Lakh and from Rs. 20.00 Lakh to Rs. 10.00 Lakh for the importer, while the penalty of Rs. 15.00 Lakh was reduced to Rs. 10.00 Lakh for the abettor. The Tribunal justified the reduction based on the goods not being released to the appellants for use or sale, and the abettor not benefiting from the confiscated goods. Case-Laws Customs Wed, 10 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354362