2008 (7) TMI 761

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....espondent. [Order per : S.S. Kang, Vice-President]. -  Heard both sides. 2. Appellants filed this appeal for waiver of penalty of Rs. 10,000/- imposed under Section 20 of Customs Act. The appellants is a Bank manager of Oriental Bank of Commerce, New Delhi. Penalty was imposed on the ground that he has not taken due caution before opening current account in the name of Shri A.K.....

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....ort was opened as Shri A.K. Singh also had current account. The contention is that as Shri A.K. Singh has personal account and another account was opened in the name of M/s. Vikas Export. 4. The contention of the Revenue is that he is responsible to ascertain credential of person who is opening the account. In the present case M/s. Vikas Exports exported goods by misdeclaring value of the ....