https://www.taxtmi.com/caselaws?id=84528 The Tribunal upheld the Commissioner's determination of the assessable value, confiscation, and penalty under the Customs Act, 1962. The plea for re-export was rejected, and the fine in lieu of confiscation and penalty were reduced from Rs. 5 lakh to Rs. 3 lakh and from Rs. 1 lakh to Rs. 50,000, respectively, taking into account the time since import and the characteristics of the goods. en-us Fri, 25 Aug 1995 00:00:00 +0530 Fri, 22 Jul 2011 14:52:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=84528 The Tribunal upheld the Commissioner's determination of the assessable value, confiscation, and penalty under the Customs Act, 1962. The plea for re-export was rejected, and the fine in lieu of confiscation and penalty were reduced from Rs. 5 lakh to Rs. 3 lakh and from Rs. 1 lakh to Rs. 50,000, respectively, taking into account the time since import and the characteristics of the goods. Case-Laws Customs Fri, 25 Aug 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=84528