2000 (8) TMI 331 - AT - Customs

Summary

The Appellate Tribunal CEGAT, Mumbai considered an application for waiver of a penalty of Rs. 3.00 lacs imposed on the applicant for smuggling 12 gold bars. The Tribunal accepted the contention that since the gold was seized by the police and not under the reasonable belief of smuggling, Section 123 of the Act would not apply. The applicant provided evidence of lawful importation of the gold, leading to the waiver of the penalty and stay of its recovery. (Case citation: 2000 (8) TMI 331 - CEGAT, Mumbai)