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2014 (8) TMI 11 - MADRAS HIGH COURTPower of tribunal - Reduction in penalty - Whether the Tribunal was justified in modifying the penalty imposed under Section 114A of the Customs Act in respect of misdeclaration, where duty demand has been confirmed - Held that:- there was no discretion vested with the Tribunal to reduce the quantum of penalty than what is provided in terms of the Statute - In view of the categorical statement of law and taking note of the specific provision of Section 114A where there is a specific mandate that the importer shall be liable to pay penalty equal to the duty or interest so determined by the authority concerned, when there is a mis-declaration the Tribunal is not justified in reducing the penalty imposed under Section 114A of the Customs Act. Such a mandate under the Statute cannot be given a go-by by the Tribunal - Following decision of Commissioner of Central Excise, Delhi -II V. Bisht Electronics reported in [2011 (9) TMI 128 - DELHI HIGH COURT] - Decided in favour of Revenue.
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