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2018 (7) TMI 1015 - AT - CustomsImposition of penalty u/s 114AA of the Customs Act, 1962 - penalty imposed is challenged on the ground that that under section 114AA of the Customs Act, 1962 penalty can be imposed only on cases related to export of goods and not on import of goods - Held that:- Section 114AA nowhere suggests that penalty is imposable only in cases of export of goods and not on import of goods. Since, there is no explicit mention in this regard the section 114AA shall apply to all the cases irrespective whether it is related to import or export. The penalties under section 114AA on Shri Vimal Shah and Shri Anmol Sethi was not imposed only on the ground of report of standing committee on finance but also on the ground that a separate penalty cannot be imposed on the proprietors when penalty on the proprietorship concern has been imposed - It is a settled law that a separate penalty cannot be imposed on the proprietor when the penalty on proprietorship firm has been imposed. Appeal dismissed - decided against Revenue.
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