Penalty for attempt to export goods improperly, etc
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.... 113, or abets the doing or omission of such an act, shall be liable,- (i) in the case of goods in respect of which any prohibition is in force under this Act or any other law for the time being in force, to a penalty ^1[^4[not exceeding three times the value of the goods as declared by the exporter or the value as determined under this Act],] whichever is the greater; ....
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....hever is the greater.] ************** NOTES:- 1. Substituted vide Section 108 of the Finance Act, 2001 w.e.f. 11-05-2001 before it was read as, "not exceeding five times the value of the goods or one thousand rupees," 2. Substituted vide Section 108 of the Finance Act, 2001 w.e.f. 11-05-2001 before it was read as....
TaxTMI