https://www.taxtmi.com/caselaws?id=768161 The Tribunal partially allowed an appeal regarding a penalty under section 112(b) of the Customs Act, 1962, reducing it from Rs.25,000 to Rs.10,000. The case concerned an appellant who purchased and later sold an imported motorcycle without proper due diligence. While the appellant claimed good faith, the cash transaction with an untraceable seller and failure to verify the motorcycle's legitimate importation justified maintaining a penalty. The Tribunal concluded the appellant lacked sufficient diligence but had not knowingly engaged in fraud, warranting the penalty reduction. en-us Fri, 28 Mar 2025 00:00:00 +0530 Wed, 02 Apr 2025 08:35:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768161 The Tribunal partially allowed an appeal regarding a penalty under section 112(b) of the Customs Act, 1962, reducing it from Rs.25,000 to Rs.10,000. The case concerned an appellant who purchased and later sold an imported motorcycle without proper due diligence. While the appellant claimed good faith, the cash transaction with an untraceable seller and failure to verify the motorcycle's legitimate importation justified maintaining a penalty. The Tribunal concluded the appellant lacked sufficient diligence but had not knowingly engaged in fraud, warranting the penalty reduction. Case-Laws Customs Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768161