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2017 (3) TMI 1194 - AT - CustomsImposition of personal penalties u/s 112 of the CA, 1962 - the appellants are alleged to have purchased imported fabrics which were diverted by an EOU which was imported for actual consumption of the said EOU - Held that: - the various statements recorded of the co-noticees indicate that both the appellants had visited the premises of the EOU and took inspection of the goods and the statements also records that both the appellants were indulged in purchase of fabrics in cash without any documents - the appellants’ claim of ignorance, is without any merits. The penalty of ₹ 2 lakhs each on these two appellants is definitely excessive considering that fact that there could be element of doubt as to whether they were aware of the goods being diverted, particularly so when they were taken to a warehouse for inspection of the goods - also the penalty imposed on the Chartered Accountant, is on higher side - the ends of justice will be met if the penalties imposed on both these appellants are reduced to Rupees Fifty thousand each from ₹ 2 lakh Appeal allowed - decided partly in favor of appellants.
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