https://www.taxtmi.com/caselaws?id=446367 HC held that customs authorities exceeded their power when imposing compounding penalty above the 5% upper cap limit prescribed in Circular No.27 of 2015. The case involved smuggling of 247 boxes of prescription drugs exported without proper clearance and statutory formalities. The court found the compounding rate unjustified and modified the penalty to comply with the mandatory 5% limit, ruling that authorities lacked power to exceed this ceiling despite the serious nature of the customs violation. en-us Fri, 24 Nov 2023 00:00:00 +0530 Sat, 02 Dec 2023 17:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446367 HC held that customs authorities exceeded their power when imposing compounding penalty above the 5% upper cap limit prescribed in Circular No.27 of 2015. The case involved smuggling of 247 boxes of prescription drugs exported without proper clearance and statutory formalities. The court found the compounding rate unjustified and modified the penalty to comply with the mandatory 5% limit, ruling that authorities lacked power to exceed this ceiling despite the serious nature of the customs violation. Case-Laws Customs Fri, 24 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446367