https://www.taxtmi.com/caselaws?id=345559 The appellate tribunal upheld the confiscation of goods and penalties imposed under sections 114 and 112 of the Customs Act, 1962, due to discrepancies in stock found in the Customs Bonded Warehouse. While confirming the excess and shortage of goods, the tribunal reduced the redemption fine from Rs. 1,50,000 to Rs. 75,000, deeming it proportionate. The tribunal emphasized the importance of accurate stock records in warehouses to prevent confiscation and highlighted the correct application of relevant sections of the Customs Act in determining penalties. en-us Mon, 10 Jul 2017 00:00:00 +0530 Wed, 07 Feb 2018 16:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345559 The appellate tribunal upheld the confiscation of goods and penalties imposed under sections 114 and 112 of the Customs Act, 1962, due to discrepancies in stock found in the Customs Bonded Warehouse. While confirming the excess and shortage of goods, the tribunal reduced the redemption fine from Rs. 1,50,000 to Rs. 75,000, deeming it proportionate. The tribunal emphasized the importance of accurate stock records in warehouses to prevent confiscation and highlighted the correct application of relevant sections of the Customs Act in determining penalties. Case-Laws Customs Mon, 10 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345559