https://www.taxtmi.com/caselaws?id=101409 The Tribunal determined that the dumb barge was classified as 'goods' rather than a 'foreign going vessel' on previous occasions, upholding the need for a Bill of Entry. The barge was deemed liable for confiscation under Section 111(d) due to age criteria not being met. A penalty initially set at Rs. 2.5 crores on M/s. Essar Oil Ltd. was reduced to Rs. 25 lacs, considering duty-free import eligibility. The penalty of Rs. 5 lacs on M/s. Modest Shipping Pvt. Ltd. was overturned due to lack of awareness regarding ownership, granting them relief. en-us Fri, 08 Feb 2002 00:00:00 +0530 Thu, 09 Feb 2012 16:46:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101409 The Tribunal determined that the dumb barge was classified as 'goods' rather than a 'foreign going vessel' on previous occasions, upholding the need for a Bill of Entry. The barge was deemed liable for confiscation under Section 111(d) due to age criteria not being met. A penalty initially set at Rs. 2.5 crores on M/s. Essar Oil Ltd. was reduced to Rs. 25 lacs, considering duty-free import eligibility. The penalty of Rs. 5 lacs on M/s. Modest Shipping Pvt. Ltd. was overturned due to lack of awareness regarding ownership, granting them relief. Case-Laws Customs Fri, 08 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101409