https://www.taxtmi.com/caselaws?id=188768 The High Court granted interim stay against the confiscation of vessel Smit Borneo pending appeal under Section 111(f) of the Customs Act, 1962, despite the vessel not being declared as goods in the IGM. The Tribunal imposed a penalty on the appellant under Section 112(a) of the Act, acknowledging the appellant's bona fide actions but still imposing a reduced penalty of Rs. 5.00 lacs. The appellant agreed to pay the penalty without prejudice to its rights and contentions in the appeal. en-us Thu, 26 Sep 2013 00:00:00 +0530 Wed, 21 Dec 2016 15:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188768 The High Court granted interim stay against the confiscation of vessel Smit Borneo pending appeal under Section 111(f) of the Customs Act, 1962, despite the vessel not being declared as goods in the IGM. The Tribunal imposed a penalty on the appellant under Section 112(a) of the Act, acknowledging the appellant's bona fide actions but still imposing a reduced penalty of Rs. 5.00 lacs. The appellant agreed to pay the penalty without prejudice to its rights and contentions in the appeal. Case-Laws Customs Thu, 26 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188768