https://www.taxtmi.com/caselaws?id=94082 Penalty under Section 112 of the Customs Act was held unsustainable where the record did not show that the appellant knew, or had reason to believe, that the goods stored in his godown were liable to confiscation under Section 111. Mere involvement in storage was insufficient to establish the requisite mental element for penal liability under the confiscation scheme. On that basis, the penalty was set aside in favour of the assessee. en-us Tue, 19 Sep 2000 00:00:00 +0530 Fri, 18 Nov 2011 18:35:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=94082 Penalty under Section 112 of the Customs Act was held unsustainable where the record did not show that the appellant knew, or had reason to believe, that the goods stored in his godown were liable to confiscation under Section 111. Mere involvement in storage was insufficient to establish the requisite mental element for penal liability under the confiscation scheme. On that basis, the penalty was set aside in favour of the assessee. Case-Laws Customs Tue, 19 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=94082