https://www.taxtmi.com/caselaws?id=446929 CESTAT Bangalore upheld penalty under Section 114A of Customs Act, 1962 equivalent to duty short-paid of Rs.14,97,179 against appellant company for mis-declaration of assessable value resulting in short-payment. Personal penalties under Section 112(b) on other appellants were confirmed but reduced - Managing Director's penalty reduced to Rs.2,00,000 and Marketing Director's penalty reduced to Rs.1,00,000 considering gravity of offence and case circumstances. Company's appeal dismissed; other appellants' appeals partially allowed. en-us Wed, 13 Dec 2023 00:00:00 +0530 Fri, 15 Dec 2023 10:52:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446929 CESTAT Bangalore upheld penalty under Section 114A of Customs Act, 1962 equivalent to duty short-paid of Rs.14,97,179 against appellant company for mis-declaration of assessable value resulting in short-payment. Personal penalties under Section 112(b) on other appellants were confirmed but reduced - Managing Director's penalty reduced to Rs.2,00,000 and Marketing Director's penalty reduced to Rs.1,00,000 considering gravity of offence and case circumstances. Company's appeal dismissed; other appellants' appeals partially allowed. Case-Laws Customs Wed, 13 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446929