https://www.taxtmi.com/caselaws?id=794591 The Customs Act penalty framework was applied to import and export transactions where goods were found liable to confiscation under Sections 111 and 113, attracting penalty under Sections 112 and 114. The Tribunal upheld the legal basis for penalty but reduced the Chairman and Managing Director's penalty as excessive on the facts, and that discretionary reduction was not disturbed because no perversity or substantial question of law was shown. It also set aside penalties on company officers after finding they acted only in an official capacity and had no independent dealings in the goods; that factual finding was accepted. The appeals failed and the Tribunal's order was sustained in full. en-us Thu, 25 Jun 2026 00:00:00 +0530 Wed, 08 Jul 2026 09:08:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794591 The Customs Act penalty framework was applied to import and export transactions where goods were found liable to confiscation under Sections 111 and 113, attracting penalty under Sections 112 and 114. The Tribunal upheld the legal basis for penalty but reduced the Chairman and Managing Director's penalty as excessive on the facts, and that discretionary reduction was not disturbed because no perversity or substantial question of law was shown. It also set aside penalties on company officers after finding they acted only in an official capacity and had no independent dealings in the goods; that factual finding was accepted. The appeals failed and the Tribunal's order was sustained in full. Case-Laws Customs Thu, 25 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794591