https://www.taxtmi.com/caselaws?id=74076 The Tribunal upheld the confiscation of seized tyres and penalties imposed by the Additional Collector of Customs but set aside the order of absolute confiscation. The matter was remanded to grant the appellants the option to redeem the goods on payment of a fine based on market prices and profit margins, in accordance with a Supreme Court precedent allowing redemption in such cases. The Tribunal found the penalties appropriate but considered the redemption option overlooked by the Additional Collector, emphasizing the need for fair consideration in such matters. en-us Sat, 27 Aug 1988 00:00:00 +0530 Mon, 06 Jun 2011 15:59:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=74076 The Tribunal upheld the confiscation of seized tyres and penalties imposed by the Additional Collector of Customs but set aside the order of absolute confiscation. The matter was remanded to grant the appellants the option to redeem the goods on payment of a fine based on market prices and profit margins, in accordance with a Supreme Court precedent allowing redemption in such cases. The Tribunal found the penalties appropriate but considered the redemption option overlooked by the Additional Collector, emphasizing the need for fair consideration in such matters. Case-Laws Customs Sat, 27 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=74076