https://www.taxtmi.com/caselaws?id=365882 The High Court upheld the Tribunal's decision to reduce the penalty imposed on the appellant under Section 114(i) of the Customs Act. The Tribunal's order, which reduced the penalty from Rs. 50 lakhs to Rs. 5 lakhs, was found justified based on the roles of the individuals involved in the illegal export of foreign currency. The appellant's arguments regarding excessive penalty compared to others, lack of cross-examination opportunities, and coercion in making statements were dismissed. The Court deemed the Tribunal's decision as reasonable and no substantial question of law arose, leading to the dismissal of the appeal and the maintenance of the penalty reduction. en-us Mon, 20 Aug 2018 00:00:00 +0530 Tue, 13 Nov 2018 14:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365882 The High Court upheld the Tribunal's decision to reduce the penalty imposed on the appellant under Section 114(i) of the Customs Act. The Tribunal's order, which reduced the penalty from Rs. 50 lakhs to Rs. 5 lakhs, was found justified based on the roles of the individuals involved in the illegal export of foreign currency. The appellant's arguments regarding excessive penalty compared to others, lack of cross-examination opportunities, and coercion in making statements were dismissed. The Court deemed the Tribunal's decision as reasonable and no substantial question of law arose, leading to the dismissal of the appeal and the maintenance of the penalty reduction. Case-Laws Customs Mon, 20 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365882