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TMI Blog1969 (11) TMI 26X X X X Extracts X X X X X X X X Extracts X X X X ..... th section 112(b) of the Customs Act, 1962. Certain zinc ingots found in the godown of the petitioner which were pledged under a key-loan to Lord Krishna Bank were directed to be confiscated, giving the petitioner an option to redeem the same on payment of a fine of Rs. 1,000/- in lieu of confiscation under section 125 of the Act. A penalty of Rs. 250/- was further imposed on the petitioner under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... knows or has reason to believe are liable to confiscation under section 111 shall be liable - (i) in the case of goods in respect of which any prohibition is in force under this Act or any other law for the time being in force, to a penalty not exceeding five times the value of the goods or one thousand rupees whichever is the greater - (ii) in the case or dutiable goods other ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le for the imposition of a penalty. 2.The facts here proved are only these. That certain zinc ingots were found in and seized from the godown of the petitioner referred to earlier. These ingots contained marks "TREPCA" and "TO HOEZ". According to the Assistant Collector, these marks should lead any reasonable business man to conclude that they are of foreign origin and have been imported. Assumi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r by section 123 of the Act. Being so, it appears to me that there was no foundation at all for holding that there was a wrongful import, and that the said import contravened the provisions of section 111(d) of the Act. As for section 112 (b) of the Act the Assistant Collector in the impugned order, did not at all address himself, to the question, much the less did he find, that the petitioner eit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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