2001 (11) TMI 689 - AT - Customs

Summary

The case involved a waiver of deposit of penalties totaling Rs. 15 lakhs imposed on the applicant under Sections 111(a) and (o) of the Act. The Tribunal found the penalties not justified and waived the deposit, staying its recovery. The Tribunal also questioned the legal basis for imposing penalties in lieu of confiscation, stating penalties are not a substitute for redemption fines under Section 125 of the Act.