https://www.taxtmi.com/caselaws?id=123450 The Tribunal found the penalty imposed on the appellant under Section 112 of the Customs Act, 1962 unwarranted, considering the appellant's good faith belief in the duty payment status of the imported car. The penalty was overturned, emphasizing the significance of assessing the circumstances and parties' good faith in duty payment cases. The appellant's genuine belief in the legality of the transaction led to the Tribunal's decision to set aside the penalty. en-us Mon, 10 Mar 2008 00:00:00 +0530 Fri, 14 Sep 2012 11:39:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123450 The Tribunal found the penalty imposed on the appellant under Section 112 of the Customs Act, 1962 unwarranted, considering the appellant's good faith belief in the duty payment status of the imported car. The penalty was overturned, emphasizing the significance of assessing the circumstances and parties' good faith in duty payment cases. The appellant's genuine belief in the legality of the transaction led to the Tribunal's decision to set aside the penalty. Case-Laws Customs Mon, 10 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123450