https://www.taxtmi.com/caselaws?id=101691 A conveyance used in smuggling remained liable to confiscation under section 115(2) of the Customs Act, 1962 where the person in charge had admitted the offence, even though the owner denied personal knowledge. The confiscation was therefore sustained. The redemption fine was, however, reduced because the valuation basis used was found to be incorrect, the lower purchase value was supported by contemporaneous statements, and the vessel had deteriorated while under seizure. Partial relief was thus granted by reducing the fine to Rs. 32,500 while affirming confiscation. en-us Wed, 13 Feb 2002 00:00:00 +0530 Fri, 10 Feb 2012 17:15:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101691 A conveyance used in smuggling remained liable to confiscation under section 115(2) of the Customs Act, 1962 where the person in charge had admitted the offence, even though the owner denied personal knowledge. The confiscation was therefore sustained. The redemption fine was, however, reduced because the valuation basis used was found to be incorrect, the lower purchase value was supported by contemporaneous statements, and the vessel had deteriorated while under seizure. Partial relief was thus granted by reducing the fine to Rs. 32,500 while affirming confiscation. Case-Laws Customs Wed, 13 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101691