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2015 (9) TMI 1201 - HC - CustomsConfiscation of goods - recovery of seized foreign origin goods - Held that:- Section 111 of the Customs Act, 1962 provides that any prohibited goods found concealed in any manner in any conveyance shall be liable to confiscation. Section 112 of the Customs Act, 1962 provides that any persons, who acquires possession of or is in any way concerned in carrying, removing, depositing, harbouring, keeping, concealing, selling or purchasing, or in any other manner dealing with any goods which he knows or has reason to believe are liable to confiscation under Section 111 shall be liable to a penalty not exceeding the value of the goods or five thousand rupees, whichever is the greater. - seized goods was valued worth ₹ 4,00,000/-. Therefore, the appellate authority imposed the penalty. The penalty imposed upon the appellants is less than the value of the goods, which has been upheld by the learned Tribunal - Decided against assessee.
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