https://www.taxtmi.com/caselaws?id=89414 The Appellate Tribunal CEGAT, New Delhi, ruled in favor of the appellants regarding the exemption claim, confiscation of the band knife cutting machine, misdeclaration of value, and imposition of penalties under the Customs Act, 1962. The Tribunal granted the appellants the benefit of exemption and Open General License, allowing the redemption of the machine upon payment of a fine. The misdeclaration charge was dismissed, and the penalty imposed was revoked due to the appellants' genuine belief in the accuracy of the declared value. en-us Wed, 28 Oct 1998 00:00:00 +0530 Mon, 26 Sep 2011 18:41:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=89414 The Appellate Tribunal CEGAT, New Delhi, ruled in favor of the appellants regarding the exemption claim, confiscation of the band knife cutting machine, misdeclaration of value, and imposition of penalties under the Customs Act, 1962. The Tribunal granted the appellants the benefit of exemption and Open General License, allowing the redemption of the machine upon payment of a fine. The misdeclaration charge was dismissed, and the penalty imposed was revoked due to the appellants' genuine belief in the accuracy of the declared value. Case-Laws Customs Wed, 28 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=89414