https://www.taxtmi.com/caselaws?id=85708 The tribunal imposed a penalty of Rs. 25,000 on the respondents under Section 112 of the Customs Act, 1962, for deliberately undervaluing imported metal zippers from Japan to evade duty. The tribunal overturned the decision to drop the penalty, emphasizing the importance of upholding customs regulations and preventing duty evasion through undervaluation. The case highlighted the consequences of misdeclaration of value for customs duty calculation, with the tribunal emphasizing the need for consistent enforcement of penalties in such cases to deter similar conduct. en-us Thu, 08 Aug 1996 00:00:00 +0530 Sat, 06 Aug 2011 16:45:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=85708 The tribunal imposed a penalty of Rs. 25,000 on the respondents under Section 112 of the Customs Act, 1962, for deliberately undervaluing imported metal zippers from Japan to evade duty. The tribunal overturned the decision to drop the penalty, emphasizing the importance of upholding customs regulations and preventing duty evasion through undervaluation. The case highlighted the consequences of misdeclaration of value for customs duty calculation, with the tribunal emphasizing the need for consistent enforcement of penalties in such cases to deter similar conduct. Case-Laws Customs Thu, 08 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=85708