https://www.taxtmi.com/caselaws?id=752026 CESTAT New Delhi allowed the appeal regarding penalty reduction under Section 28(5). The appellant had misclassified imported computer-generated drawings and wrongly claimed BCD exemption. Despite finding no bona-fide intention in the misclassification, the tribunal noted appellant voluntarily paid differential BCD and interest upon detection. The reduced penalty payment made on 16.12.2019 was accepted as timely despite weekend holidays on 14th-15th December. Since appellant complied with Section 28(5) requirements by paying 15% reduced penalty, the tribunal set aside the equal penalty amount imposed by lower authorities and confirmed appellant's liability was limited to the already-paid reduced penalty rate. en-us Tue, 30 Apr 2024 00:00:00 +0530 Thu, 02 May 2024 06:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752026 CESTAT New Delhi allowed the appeal regarding penalty reduction under Section 28(5). The appellant had misclassified imported computer-generated drawings and wrongly claimed BCD exemption. Despite finding no bona-fide intention in the misclassification, the tribunal noted appellant voluntarily paid differential BCD and interest upon detection. The reduced penalty payment made on 16.12.2019 was accepted as timely despite weekend holidays on 14th-15th December. Since appellant complied with Section 28(5) requirements by paying 15% reduced penalty, the tribunal set aside the equal penalty amount imposed by lower authorities and confirmed appellant's liability was limited to the already-paid reduced penalty rate. Case-Laws Customs Tue, 30 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752026