https://www.taxtmi.com/caselaws?id=115083 The judge upheld the penalty of Rs. 1 lakh imposed on the appellant under Section 112(b) of the Customs Act for dealing with smuggled gold. Despite retractions, the co-pilot's detailed knowledge of the appellant and the appellant's admission supported the case. The judge found no reason to doubt the co-pilot's version and reduced the penalty from Rs. 2 lakhs to Rs. 1 lakh, considering the circumstances and the value of the gold. The appeal was partly allowed, resulting in a reduction of the penalty imposed on the appellant. en-us Wed, 16 Feb 2005 00:00:00 +0530 Wed, 23 May 2012 16:19:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115083 The judge upheld the penalty of Rs. 1 lakh imposed on the appellant under Section 112(b) of the Customs Act for dealing with smuggled gold. Despite retractions, the co-pilot's detailed knowledge of the appellant and the appellant's admission supported the case. The judge found no reason to doubt the co-pilot's version and reduced the penalty from Rs. 2 lakhs to Rs. 1 lakh, considering the circumstances and the value of the gold. The appeal was partly allowed, resulting in a reduction of the penalty imposed on the appellant. Case-Laws Customs Wed, 16 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115083