https://www.taxtmi.com/caselaws?id=106982 The Tribunal upheld the appellant's liability under Section 112(b) of the Customs Act but reduced the penalty from Rs. 5 Lakhs to Rs. 1 Lakh. It found the appellant aware of the confiscability of some goods under Section 111(d) but not of freely importable goods, justifying the penalty reduction. The judgment emphasized the significance of knowledge and belief concerning goods' confiscability for liability determination, balancing the appellant's admission with the nature of seized goods. en-us Wed, 30 Oct 2002 00:00:00 +0530 Fri, 16 Mar 2012 18:03:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106982 The Tribunal upheld the appellant's liability under Section 112(b) of the Customs Act but reduced the penalty from Rs. 5 Lakhs to Rs. 1 Lakh. It found the appellant aware of the confiscability of some goods under Section 111(d) but not of freely importable goods, justifying the penalty reduction. The judgment emphasized the significance of knowledge and belief concerning goods' confiscability for liability determination, balancing the appellant's admission with the nature of seized goods. Case-Laws Customs Wed, 30 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106982