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2007 (6) TMI 129
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....sides. 2. The present two appellants are M/s. Ektara Exports Pvt. Ltd. (formerly M/s. Cherish Apparels (P) Ltd.) and Shri Mahendra Kumar Patni, Chief Executive Officer of M/s. Ektara Exports. Both the appellants have been penalised to the extent of Rs. 10.00 lakhs (Rupees ten lakhs) and Rs. 30.00 lakhs (Rupees thirty lakhs) respectively under Section 114(iii) of the Customs Act, 1962. 3. Aft....
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..................................................................................................................... (iii) in the case of goods under claim for drawback, to a penalty not exceeding the amount of drawback claimed or five thousand rupees, whichever is the greater." 7. It is very clear from the legal provision under Section 114(iii) which existed at the material time that penalty c....