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2017 (4) TMI 203 - CESTAT KOLKATAImposition of penalty u/s 114 of the CA - quantum of redemption fine and penalty - illegal export of drug formulations - N/N. 35/2008-Cus (NT) dt.02.04.2008 - Held that: - Section 114 of the Act, 1962, provides penalty for attempt to export goods improperly etc., Clause (iii) of Section 114 provides that any person, who, in relation to any goods does or omits to do any act which act or omission would render such goods liable to confiscation u/s 113 or abates the doing or omission of such an act, shall be liable to a penalty not exceeding the value of the goods as declared by the exporter or the value as determined under this Act, whichever is greater - the imposition of penalty u/s 114 of the Act, 1962 is justified - the quantum of redemption fine and penalty are excessive, redemption fine reduced to ₹ 10,00,000/- and penalty reduced to ₹ 5,00,000/- each - appeal allowed - decided in favor of appellant.
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