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2015 (2) TMI 26 - HC - CustomsReduction in imposed penalty and redemption fine - Misdeclaration of goods - - Held that:- From the cumulative reading of the Section 112 clause (b) it is made clear that if there is any misdeclaration of goods as well as value, penalty can be imposed more than the value of goods and in the instant case, such things have had happened and therefore, the assessee cannot take shelter under clause (ii) of Section 112(b) of the said Act. - It is an admitted fact that only due to misdeclaration of goods as well as duty, the present proceeding has became emanated. Since the present proceeding has become emanated only due to misdeclaration of goods as well as duty, it is needless to say that Clause (ii) of Sub-Section (b) of 112 of the said Act is not applicable to the present case. The Department is entitled to impose penalty on the basis of Section 112(b)(v) of the said Act. Therefore, it is quite clear that the contention put forth on the side of the appellant/assessee is not legally acceptable and the substantial questions of law settled in the present Civil Miscellaneous Appeal are not having substance - Decided against assessee.
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