https://www.taxtmi.com/caselaws?id=437860 The Tribunal confirmed the penalty under Section 114A for misdeclaration of goods and undervaluation, reducing it to Rs. 5 lakhs. The Commissioner (Appeals) had set aside the penalty, but the Tribunal found the misdeclaration admitted by the importer and the higher valuation justified the penalty. The appeal was allowed in part, modifying the order and upholding the penalty at a reduced amount. en-us Thu, 04 May 2023 00:00:00 +0530 Wed, 17 May 2023 08:45:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437860 The Tribunal confirmed the penalty under Section 114A for misdeclaration of goods and undervaluation, reducing it to Rs. 5 lakhs. The Commissioner (Appeals) had set aside the penalty, but the Tribunal found the misdeclaration admitted by the importer and the higher valuation justified the penalty. The appeal was allowed in part, modifying the order and upholding the penalty at a reduced amount. Case-Laws Customs Thu, 04 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437860