Penalty Under Customs Act Section 112 Deemed Unjustifiable Due to Lack of Evidence in Gold and Silver Import Case.

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....Levy of penalty u/s 112 of Customs Act - illicit import of Gold and silver - misdeclaration of goods - The Revenue, having alleged one Salman as the mastermind, has not bothered to place anything on record, which has left innumerable doubts and questions unanswered, like the above. Penalty, therefore, cannot be imposed on surmises, assumptions and presumptions and there is not even any circumstantial evidence brought on record against these appellants, to justify penalty under ‘Section 112’. - AT....