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2009 (2) TMI 3 - SC - CustomsUnder-valuation of imported goods - evidence on record clearly established the undervaluation – penalty u/s 112(a) imposed on MD and Director of company - penalty u/s 114A imposed on company - stand taken that even before issue of SCN, a sum of Rs.25 lakhs was paid, is not a mitigating circumstance - appeal filed by the company is without merit and is dismissed - it cannot be said that the quantum of penalty imposed suffers from any infirmity – appeal filed by MD and Director is also dismissed
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