CESTAT Reduces Personal Penalty to ₹2 Lakhs Based on Voluntary Offer and Revised Duty Assessment

CESTAT reduced a personal penalty to lakhs based on a voluntary offer and revised duty assessment. The case likely involved allegations of duty evasion, where the individual offered to pay a revised duty amount voluntarily. Considering this voluntary offer and the revised assessment, the tribunal exercised its discretion to reduce the personal penalty imposed. This ruling suggests that voluntary compliance and cooperation can be a mitigating factor in penalty determinations by the appellate tribunal in customs and excise matters.