https://www.taxtmi.com/caselaws?id=167404 The Tribunal upheld the confiscation of the vessel under Section 115(2) of the Customs Act but reduced the fine imposed by the Board from Rs. 35,000 to Rs. 20,000. The Tribunal found that the appellant's argument regarding the vessel's reduced value over time was not supported by the auction sale price of Rs. 30,000. It was determined that the fine should not be confiscatory, especially considering the absence of a personal penalty and no evidence of repeated smuggling activities using the vessel. The appeal was rejected with the revised fine amount. en-us Wed, 31 Oct 1984 00:00:00 +0530 Thu, 18 Dec 2014 17:27:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=167404 The Tribunal upheld the confiscation of the vessel under Section 115(2) of the Customs Act but reduced the fine imposed by the Board from Rs. 35,000 to Rs. 20,000. The Tribunal found that the appellant's argument regarding the vessel's reduced value over time was not supported by the auction sale price of Rs. 30,000. It was determined that the fine should not be confiscatory, especially considering the absence of a personal penalty and no evidence of repeated smuggling activities using the vessel. The appeal was rejected with the revised fine amount. Case-Laws Customs Wed, 31 Oct 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=167404