2009 (8) TMI 729 - HC - Customs

Evidence - no independent corroborative material - to impose penalty - Held that - Assessee not retracted their statement - co-noticee even did not seek cross examination of these persons - independent evidence was required to corroborate their statements - appeal is dismissed

Summary

The Bombay High Court dismissed the appeal, stating that the penalty on the appellant was justified based on evidence from co-noticees' statements without the need for further corroborative material. The court found no perversity in the conclusion drawn.