Supreme Court of India
M/s. U.K. Enterprises & Anr. v. Commissioner of Customs and Central Excise & Anr.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
For the reasons stated above, the appeals are disposed of in C the above terms.
Judgment, page 8
From the headnote
Customs Act, I 962; Ss. 112, 114A & I 25: c Undervaluation-Import of Integrated circuits-Levy of customs duty based upon actual price-Differential amount of duty-Demand of-Penalty & redemption fine-Imposition of-Appeal and cross- appeals-Tribunal enhanced the penalty and the fine-On appeal, Held: Imposing of enhanced penalty by the Tribunal was against the express provisions of law-Hence, penalty reduced to the duty amount in terms of the provision u/s. I I 4A of the Act-In the facts and under ).. the circumstances of the case, no interference in the order of the Tribunal enhancing the fine
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