SECTION 122.

In every case under this Chapter in which anything is liable to confiscation or any person is liable to a penalty, such confiscation or penalty may be adjudged, -

(a) without limit, by a Commissioner of Customs or a Joint Commissioner of Customs;

(b) where the value of the goods liable to confiscation does not exceed five lakh [OLD two lakh] [OLDfifty thousand] rupees, by an Assistant Commissioner of Customs or Deputy Commissioner of Customs;

(c) where the value of the goods liable to confiscation does not exceed fifty thousand [OLD- ten thousand [OLD two thousand five hundred] rupees, by a Gazetted Officer of Customs lower in rank than an Assistant Commissioner of Customs

(ABOVE CHANGES VIDE THE FINANCE BILL, 2012)

(In clause (b) & (c) bold Words substituted vide Finance Bill 2003)