https://www.taxtmi.com/caselaws?id=114221 The Tribunal set aside the penalty imposed on the appellant under Section 112 of the Customs Act, 1962, amounting to Rs. 2.00 lakh. The decision emphasized the requirement for independent corroboration when relying on statements of co-accused individuals for penalty imposition. The Tribunal found the lack of corroborating evidence and dismissed the penalty, granting relief to the appellant. This case underscores the necessity of concrete evidence before penalizing individuals based solely on statements of co-accused individuals under the Customs Act, 1962. en-us Mon, 24 Nov 2003 00:00:00 +0530 Sat, 12 May 2012 13:20:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114221 The Tribunal set aside the penalty imposed on the appellant under Section 112 of the Customs Act, 1962, amounting to Rs. 2.00 lakh. The decision emphasized the requirement for independent corroboration when relying on statements of co-accused individuals for penalty imposition. The Tribunal found the lack of corroborating evidence and dismissed the penalty, granting relief to the appellant. This case underscores the necessity of concrete evidence before penalizing individuals based solely on statements of co-accused individuals under the Customs Act, 1962. Case-Laws Customs Mon, 24 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114221