TaxTMI 
TaxTMI 
2001 (2) TMI 492
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....ondent [Order per : V.K. Agrawal, Member (T)]. - This is an Application filed by Shri Bimal Kapoor for waiver of pre-deposit of penalty amounting to Rs. 5 lakhs imposed by the Commissioner of Customs (EP), Mumbai. 2. Shri G.L. Rawal, learned Advocate, submitted that the penalty has been imposed on the Applicant as on examination of the consignment of readymades under three shipping bills ....
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....p as the Applicant has a small business of repair of sheet metal tools and dyes, which fetches him Rs. 2500 to 3000 per month. 3. Opposing the prayer, Shri Rajeev Tandon, learned SDR, submitted that the very fact that the Collector had imposed penalty under Section 114(iii) of the Act goes to show that the Commissioner had reached the conclusion that the Applicant had dealt with the goods wh....
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....e element of mens rea, it is generally sufficient to prove that a default in complying with the statute has occurred". He finally submitted that the financial condition of Shri Bimal Kapoor cannot be as pathetic as mentioned, as admittedly he had placed orders for the purchase of goods costing more than Rs. 20 lakhs and has claimed Draw Back amounting to Rs. 14,12,863/-. 4. We have considere....