https://www.taxtmi.com/caselaws?id=777776 CESTAT Mumbai - AT reduced redemption fine and penalty, holding Section 125 proviso caps the fine at market price less duty (Rs. 8,291). The Pr. Commissioner's higher fines and dual penalties were held unsustainable; the firm's penalty under Section 125 was limited to Rs. 8,291 and a fine of Rs. 8,291 under Section 112(a) to be paid within two months. The partner was absolved of liability attributable to the firm. Appeal allowed in part. en-us Wed, 03 Sep 2025 00:00:00 +0530 Fri, 05 Sep 2025 08:10:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777776 CESTAT Mumbai - AT reduced redemption fine and penalty, holding Section 125 proviso caps the fine at market price less duty (Rs. 8,291). The Pr. Commissioner's higher fines and dual penalties were held unsustainable; the firm's penalty under Section 125 was limited to Rs. 8,291 and a fine of Rs. 8,291 under Section 112(a) to be paid within two months. The partner was absolved of liability attributable to the firm. Appeal allowed in part. Case-Laws Customs Wed, 03 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777776