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2015 (9) TMI 510 - BOMBAY HIGH COURTPenalty imposed for improper importation of goods - Withdrawal of penalty - Whether Tribunal is right in law in setting aside penalty imposed under Section 112(2) of Customs Act, 1962 – Held that:- Once assessee is recognized as sole proprietorship concern, then, imposition of penalty on firm/concern or proprietorship concern and sole proprietor separately was not permissible in given facts and circumstances – Therefore, tribunal was justified in setting aside penalty upon sole proprietor-respondent while affirming penalty imposed upon company - In these state of affairs, we do not see that appeal raises any substantial question of law – Appeal dismissed – Decided against revenue.
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