https://www.taxtmi.com/caselaws?id=444215 The Tribunal modified the penalties by reducing the penalty under Section 114AA of the Customs Act, 1962, from Rs.10,00,000 to Rs.5,00,000, acknowledging the excessive nature of the initial penalties. The penalty under Section 112 against the appellant-company was confirmed, partially allowing their appeal. However, the personal penalty on the second appellant was upheld, and their appeal was rejected. The appeals were disposed of with these modifications and confirmations. en-us Tue, 10 Oct 2023 00:00:00 +0530 Wed, 11 Oct 2023 08:42:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444215 The Tribunal modified the penalties by reducing the penalty under Section 114AA of the Customs Act, 1962, from Rs.10,00,000 to Rs.5,00,000, acknowledging the excessive nature of the initial penalties. The penalty under Section 112 against the appellant-company was confirmed, partially allowing their appeal. However, the personal penalty on the second appellant was upheld, and their appeal was rejected. The appeals were disposed of with these modifications and confirmations. Case-Laws Customs Tue, 10 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444215