https://www.taxtmi.com/caselaws?id=117403 The Tribunal granted waiver of pre-deposit of penalty under Section 112 of the Customs Act, 1962 for the Managing Director of a company accused of violating industrial license and customs duty regulations. The Tribunal found that the provisions of Section 112 were not attracted as there was no proposal or finding that the goods were liable to confiscation under Section 111(j) of the Act. Therefore, the Tribunal waived the pre-deposit of penalty and stayed the recovery pending the appeal, providing relief to the appellant. en-us Wed, 25 Jan 2006 00:00:00 +0530 Fri, 22 Jun 2012 14:17:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117403 The Tribunal granted waiver of pre-deposit of penalty under Section 112 of the Customs Act, 1962 for the Managing Director of a company accused of violating industrial license and customs duty regulations. The Tribunal found that the provisions of Section 112 were not attracted as there was no proposal or finding that the goods were liable to confiscation under Section 111(j) of the Act. Therefore, the Tribunal waived the pre-deposit of penalty and stayed the recovery pending the appeal, providing relief to the appellant. Case-Laws Customs Wed, 25 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117403