https://www.taxtmi.com/caselaws?id=94399 Penalties under the Customs Act and the Gold (Control) Act were sustained because the record contained inculpatory statements showing involvement in the movement of seized foreign-marked gold, and retraction did not displace their evidentiary value. The Tribunal nevertheless accepted the appellants' limited role, the amounts already deposited, and their plea of financial hardship, and reduced the penalties to the extent already paid. The underlying liability was not set aside, but the quantum of penalty was moderated on the facts. en-us Wed, 10 Mar 1999 00:00:00 +0530 Tue, 22 Nov 2011 12:20:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=94399 Penalties under the Customs Act and the Gold (Control) Act were sustained because the record contained inculpatory statements showing involvement in the movement of seized foreign-marked gold, and retraction did not displace their evidentiary value. The Tribunal nevertheless accepted the appellants' limited role, the amounts already deposited, and their plea of financial hardship, and reduced the penalties to the extent already paid. The underlying liability was not set aside, but the quantum of penalty was moderated on the facts. Case-Laws Customs Wed, 10 Mar 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=94399