law: Custom Act, 1962 
  112.
  
  Penalty for Improper Importation of Goods, Etc. – 
  Any
  
  person, -
  (a)
  
  who, in relation to any goods, does or omits to do any act which act or
  
  omission would render such goods liable to confiscation under section 111, or
  
  abets the doing or omission of such an act, or
  (b)
  
  who acquires possession of or is in any way concerned in carrying, removing,
  
  depositing, harbouring, keeping, concealing, selling or purchasing, or in any
  
  other manner dealing with any goods which he knows or has reason to believe are
  
  liable to confiscation under section 111, shall be liable,- 
  ( i ) in the case of goods in respect of which
  
  any prohibition is in force under this Act or any other law for the time being
  
  in force, to a penalty not exceeding five times the value of the goods or one
  
  thousand rupees, whichever is the greater;
  (ii) in the case of dutiable goods, other than prohibited goods, to a
  
  penalty not exceeding five times the duty sought to be evaded on such goods or
  
  one thousand rupees, whichever is the greater;
  (iii) in the case of goods in respect of which the value stated in the
  
  entry made under this Act or in the case of baggage, in the declaration made
  
  under section 77 (in either case hereafter in this section referred to as the
  
  declared value) is higher than the value thereof, to a penalty not exceeding
  
  five times the difference between the declared value and the value thereof or
  
  one thousand rupees, whichever is the greater;
  (iv) in the case of goods falling both under clauses (i ) and (iii), to a penalty not exceeding five times the
  
  value of the goods or five times the difference between the declared value and
  
  the value thereof or one thousand rupees, whichever is the highest;
  (v) in the case of goods falling both under clauses (ii) and (iii), to a
  
  penalty not exceeding five times the duty sought to be evaded on such goods or
  
  five times the difference between the declared value and the value thereof or
  
  one thousand rupees, whichever is the highest.