https://www.taxtmi.com/caselaws?id=118146 The Appellate Tribunal upheld penalties imposed on two individuals under Section 112(a) of the Customs Act for their involvement in bringing Foreign Marked Gold Biscuits into India. Despite retractions, the Tribunal deemed their original confessional statements as reliable, linking them to the seized goods. Financial hardships claimed were considered, with one appellant found to have significant assets. Both individuals were directed to pre-deposit specific amounts to contest penalties further, indicating a possibility of reduction based on their circumstances. en-us Thu, 02 Mar 2006 00:00:00 +0530 Thu, 28 Jun 2012 17:10:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118146 The Appellate Tribunal upheld penalties imposed on two individuals under Section 112(a) of the Customs Act for their involvement in bringing Foreign Marked Gold Biscuits into India. Despite retractions, the Tribunal deemed their original confessional statements as reliable, linking them to the seized goods. Financial hardships claimed were considered, with one appellant found to have significant assets. Both individuals were directed to pre-deposit specific amounts to contest penalties further, indicating a possibility of reduction based on their circumstances. Case-Laws Customs Thu, 02 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118146