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2017 (4) TMI 1296 - CESTAT MUMBAIQuantum of penalty - case of Revenue is that the penalty imposed is very less considering the amount of drawback sanctioned to the respondent herein - Held that: - no penalty is imposable u/s 117 (as there are no penal provisions in Sections 74 and 75 of Customs Act, 1962) thus being a residuary provisions which can be invoked against any individuals/persons failing to comply with the provisions of Customs Act, 1962 where express penalty is otherwise not provided for such contraventions or failure. Accordingly, she has imposed penalty on the respondent under Section 114(iii) of the Customs Act, 1962 - It is settled law that imposition of penalty is discretionary at the hands of the adjudicating authority - no interference required - appeal dismissed - decided against Revenue.
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