https://www.taxtmi.com/caselaws?id=47953 The High Court dismissed the revenue's petition challenging a Customs, Excise & Gold (Control) Appellate Tribunal (CEGAT) order that reduced a penalty imposed under Section 114A of the Customs Act. The Tribunal had decreased the penalty from Rs. 82,235/- to Rs. 40,000/- due to no finding of wilful evasion and the minor amount discrepancy. The High Court emphasized that penalties are for wilful evasion and can be equal to duty or interest, but in this case, the reduction was justified, leading to the dismissal of the revenue's petition. en-us Fri, 17 Nov 2006 00:00:00 +0530 Sat, 31 Jul 2010 17:52:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=47953 The High Court dismissed the revenue's petition challenging a Customs, Excise & Gold (Control) Appellate Tribunal (CEGAT) order that reduced a penalty imposed under Section 114A of the Customs Act. The Tribunal had decreased the penalty from Rs. 82,235/- to Rs. 40,000/- due to no finding of wilful evasion and the minor amount discrepancy. The High Court emphasized that penalties are for wilful evasion and can be equal to duty or interest, but in this case, the reduction was justified, leading to the dismissal of the revenue's petition. Case-Laws Customs Fri, 17 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=47953