https://www.taxtmi.com/caselaws?id=122275 The Tribunal allowed the appeals by way of remand, reducing the penalties imposed under Section 112(b) of the Customs Act to reasonable levels. The confiscated gold bars of foreign origin, Maruti car, and cellphones were allowed to be redeemed upon payment of a reasonable redemption fine. The decision was pronounced on 17-3-2007, following a finding that the confiscation and penalties were legal in accordance with a previous Supreme Court ruling. en-us Fri, 16 Mar 2007 00:00:00 +0530 Thu, 09 Aug 2012 18:39:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122275 The Tribunal allowed the appeals by way of remand, reducing the penalties imposed under Section 112(b) of the Customs Act to reasonable levels. The confiscated gold bars of foreign origin, Maruti car, and cellphones were allowed to be redeemed upon payment of a reasonable redemption fine. The decision was pronounced on 17-3-2007, following a finding that the confiscation and penalties were legal in accordance with a previous Supreme Court ruling. Case-Laws Customs Fri, 16 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122275