Penalty Under Customs Act 1962 for Fraudulent Export Reduced from Rs. 75 Lacs to Rs. 25,000 Due to Overvaluation.

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....Quantum of penalty levied under Section 114 (iii) of the Customs Act, 1962 - fraudulent export as goods were grossly undervalued - the appellant has acted only on the instruction of the employer and more so on the basis of the signed documents i.e. invoice given by his employer. - The exorbitant penalty of ₹ 75 Lacs is not justified - the penalty is reduced from ₹ 75 Lacs to ₹ 25,000/-. - AT....