TMI Blog2017 (4) TMI 1299X X X X Extracts X X X X X X X X Extracts X X X X ..... The Tribunal found that the penalties were not commensurate with the role played and by each one of them. The Tribunal found that the mastermind was one Rajendra Bhutada. The role of others is limited and as found by the Tribunal - the penalties have been reduced after referring to the role of each of the persons involved in the act of bringing the currency in India illegally - appeal dismissed - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proper in the facts and circumstances of the case ? 2 The Tribunal in the order dated 15th January, 2015 has upheld the action of the Revenue of confiscating the goods. It has interfered with the quantum of penalty. 3 The only contention raised before us is that there is no discussion much less any reasoning when the Tribunal interferes with the penalty imposed as a consequence of confiscat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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