https://www.taxtmi.com/caselaws?id=389415 The court upheld the penalty imposed on the appellant for breaching Section 77 of the Customs Act, 1962, by failing to declare currency and negotiable instruments upon entering India. However, considering the absence of mala fide intent, the court reduced the redemption fine and penalty amounts significantly. The court ordered the respondent to refund the excess amount paid by the appellant and directed the appellant to provide bank details for the refund within a specified period to avoid accruing interest. en-us Mon, 02 Dec 2019 00:00:00 +0530 Sat, 07 Mar 2020 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389415 The court upheld the penalty imposed on the appellant for breaching Section 77 of the Customs Act, 1962, by failing to declare currency and negotiable instruments upon entering India. However, considering the absence of mala fide intent, the court reduced the redemption fine and penalty amounts significantly. The court ordered the respondent to refund the excess amount paid by the appellant and directed the appellant to provide bank details for the refund within a specified period to avoid accruing interest. Case-Laws Customs Mon, 02 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389415