2004 (7) TMI 463

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.... Shri A.K. Saxena, JDR, for the Respondent. [Order per : S.S. Sekhon, Member (T)]. -  The appellant has been imposed a penalty under Section 112(a) the Customs Act, 1962 and the appeal against them. 2. After hearing both sides and considering the material it is found - (a) The Commissioner arrived at the following -    "It can be seen that the fact reg....

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....uch I am inclined to accept the original submissions before the investigating Officer and reject the subsequent retraction as an after thought."            Therefore the appellant has been imposed a penalty of Rs. 1,50,000/- under Section 112(a) of the Customs Act. (b)     After appreciating the role of the appellant herei....

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....s for the grave charges, as mentioned in that section, there was no specific material thereafter to find liability on the financier, the appellant herein, without identifying and arriving at the specific acts under Section 112(a) on the appellants part. 2. Since the confiscation of the goods imported has been held to be only under Section 111(m) and the appellant had no role to play as reg....