https://www.taxtmi.com/caselaws?id=100901 The Tribunal upheld the confiscation of goods due to misdeclaration under clauses (d) and (i) of Section 113 of the Act. The penalties imposed on the company, Vice President, and Director were upheld, with the penalty for the company increased to Rs. 30.00 lakhs. The decision emphasized the importance of correct declaration of value for export goods under the Foreign Trade (Regulation) Rules, 1993, and highlighted the gravity of the offense in misdeclaration cases. The appeals challenging the confiscation and penalties were mostly dismissed, reinforcing the seriousness of misdeclaration in export activities. en-us Mon, 29 Oct 2001 00:00:00 +0530 Tue, 07 Feb 2012 16:40:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100901 The Tribunal upheld the confiscation of goods due to misdeclaration under clauses (d) and (i) of Section 113 of the Act. The penalties imposed on the company, Vice President, and Director were upheld, with the penalty for the company increased to Rs. 30.00 lakhs. The decision emphasized the importance of correct declaration of value for export goods under the Foreign Trade (Regulation) Rules, 1993, and highlighted the gravity of the offense in misdeclaration cases. The appeals challenging the confiscation and penalties were mostly dismissed, reinforcing the seriousness of misdeclaration in export activities. Case-Laws Customs Mon, 29 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100901