Penalty for certain offences

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.... or has reason to believe are liable to confiscation under the Act or these rules, shall be liable to a penalty not exceeding the duty on such goods or rupees ^1[two thousand rupees,] whichever is greater.] ^3[Provided that where any proceeding for the person liable to pay duty have been concluded under clause (a) or clause (d) of sub-section (1) of section 11AC of the Act in respect of duty, i....

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....of such benefit or five thousand rupees, whichever is greater.]     ******************** Notes : 1. Rule 26, has been re-numbered as sub-rule (1) thereof, and in sub-rule (1), as so re-numbered, vide NotificationNo.8/2007 CE (NT) dated 1/3/2007 and reduction of penalty from Rs. Ten thousand to two thousand, with effect from the date on which the Finance Bill, 2007 receives....