https://www.taxtmi.com/caselaws?id=758385 HC upheld penalty reduction from Rs. 5 lakhs to Rs. 3 lakhs for chemical imports under fake DEPB licenses. Appellant challenged penalty citing retracted statement of witness and lack of nexus between brokers and imported goods. Court found statement was properly recorded in custody before Senior Intelligence Officer with jail superintendent present, protecting against coercion. Tribunal's factual findings showed no perversity, and discretionary penalty reduction was appropriate. Appeal dismissed. en-us Thu, 08 Aug 2024 00:00:00 +0530 Thu, 12 Sep 2024 22:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758385 HC upheld penalty reduction from Rs. 5 lakhs to Rs. 3 lakhs for chemical imports under fake DEPB licenses. Appellant challenged penalty citing retracted statement of witness and lack of nexus between brokers and imported goods. Court found statement was properly recorded in custody before Senior Intelligence Officer with jail superintendent present, protecting against coercion. Tribunal's factual findings showed no perversity, and discretionary penalty reduction was appropriate. Appeal dismissed. Case-Laws Customs Thu, 08 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758385