https://www.taxtmi.com/caselaws?id=53890 The Bangalore Bench reduced the penalty imposed on the Proprietor of the indenting firm and the Manager under Section 112(a) of the Customs Act, 1962 from Rs. 5.00 lakhs each to Rs. 1.50 lakhs each. The Tribunal upheld the Commissioner's finding that the Proprietor and Manager were responsible for misdeclaring goods as Syncurol SLE, leading to duty exemption ineligibility for the importer firm. The reduction in penalty was based on the excessive nature of the initial penalty and the overall reduction in total demand and penalty for the importer firm. en-us Tue, 08 Feb 2005 00:00:00 +0530 Fri, 15 Oct 2010 17:10:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53890 The Bangalore Bench reduced the penalty imposed on the Proprietor of the indenting firm and the Manager under Section 112(a) of the Customs Act, 1962 from Rs. 5.00 lakhs each to Rs. 1.50 lakhs each. The Tribunal upheld the Commissioner's finding that the Proprietor and Manager were responsible for misdeclaring goods as Syncurol SLE, leading to duty exemption ineligibility for the importer firm. The reduction in penalty was based on the excessive nature of the initial penalty and the overall reduction in total demand and penalty for the importer firm. Case-Laws Customs Tue, 08 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53890