Penalty u/s 112(b) not sustained in Absence of Possession of Smuggled Gold bars by Assessee: CESTAT [Read Order]

By Taxscan Team - On October 10, 2022 4:40 pm - 2 mins read
Penalty - absence - smuggled - assessee - CESTAT - TAXSCAN

The Customs, Excise &Service Tax Appellate Tribunal (CESTAT) of Ahmedabad bench held that the penalty under section 112(b) of the Customs Act,1962 is not sustained in the absence of possession of smuggled gold bars by the assessee. The appeal was filed by the appellant against the Order-In-Original No. dated 29.11.2021 whereby the Commissioner of Customs,…

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