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2018 (3) TMI 288 - MADRAS HIGH COURTPayment made under protest - extended period of limitation - penalty - Held that: - There is a concurrent finding of fact of mis-declaration of the value, and consequently, Section 111 (m) of the Customs Act, gets attracted. Section 112 of the Customs Act which provides for penalty follow. Though CESTAT was empowered to impose a penalty, not exceeding the value of the goods of ₹ 5,000/-, whichever is greater, in the case on hand, considering the quantum of penalty of ₹ 10,00,000/- on the assessee, CESTAT has reduced the same to ₹ 5 lakhs. The appellant has not made out a case for interference and substantial question of law raised is answered against the assessee - appeal dismissed.
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