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2007 (11) TMI 130 - CESTAT NEW DELHIThe expression “penalty not exceeding the value of the goods” in clause (iii) of Section 114 gives discretion to the concerned authorities to fix the penalty, which does not exceed value of the goods - It does not contemplate that in all cases the penalty equal to the value of the goods should be imposed - excess drawback involved was only Rs.8,174 - so, penalty equal to the value of the goods was not warranted in the absence of any finding of conscious and deliberate breach – penalty reduced
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