https://www.taxtmi.com/caselaws?id=85872 The Appellate Tribunal CEGAT, Madras held that the reduction of redemption fine and penalty under the Customs Act, 1962 for an imported car in violation of PN 202/92-94 was unwarranted. The Tribunal increased the redemption fine to Rs. 5,00,000/- and the penalty to Rs. 50,000/-, emphasizing the seriousness of non-compliance with the payment abroad condition. The appeal of the revenue was allowed, overturning the lower authority's decision to reduce the fines. en-us Wed, 03 Apr 1996 00:00:00 +0530 Mon, 08 Aug 2011 16:41:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=85872 The Appellate Tribunal CEGAT, Madras held that the reduction of redemption fine and penalty under the Customs Act, 1962 for an imported car in violation of PN 202/92-94 was unwarranted. The Tribunal increased the redemption fine to Rs. 5,00,000/- and the penalty to Rs. 50,000/-, emphasizing the seriousness of non-compliance with the payment abroad condition. The appeal of the revenue was allowed, overturning the lower authority's decision to reduce the fines. Case-Laws Customs Wed, 03 Apr 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=85872