https://www.taxtmi.com/caselaws?id=115311 The Tribunal upheld the confiscation of goods under Sections 111(m) and (d) of the Customs Act, confirming the duty demand on the imported goods. Penalties imposed on the firms were set aside, while the penalty on the proprietor was reduced to Rs. 75,000 in one case and Rs. 2,50,000 in another, considering individual circumstances. The appellants' disownment of goods and exemption claim under Notification No. 149/95 were rejected due to irregularities in import licensing. The liability of proprietary firms and proprietors for penalties under Section 114A was debated, with penalties ultimately set aside for the firms. en-us Fri, 11 Mar 2005 00:00:00 +0530 Fri, 25 May 2012 18:36:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115311 The Tribunal upheld the confiscation of goods under Sections 111(m) and (d) of the Customs Act, confirming the duty demand on the imported goods. Penalties imposed on the firms were set aside, while the penalty on the proprietor was reduced to Rs. 75,000 in one case and Rs. 2,50,000 in another, considering individual circumstances. The appellants' disownment of goods and exemption claim under Notification No. 149/95 were rejected due to irregularities in import licensing. The liability of proprietary firms and proprietors for penalties under Section 114A was debated, with penalties ultimately set aside for the firms. Case-Laws Customs Fri, 11 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115311