https://www.taxtmi.com/caselaws?id=108733 The case involved misdeclaration of goods leading to confiscation under Section 111(m) of the Customs Act due to an attempt to evade customs duty. The misdeclaration affected the classification and valuation of the goods, justifying the confiscation. Importers were penalized under Section 112, with the penalty amount reduced to Rs. 75,000. The appellate tribunal also reduced the redemption fine from Rs. 3,00,000 to Rs. 1,50,000, considering additional factors such as demurrage costs. en-us Tue, 29 Oct 2002 00:00:00 +0530 Tue, 03 Apr 2012 16:03:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108733 The case involved misdeclaration of goods leading to confiscation under Section 111(m) of the Customs Act due to an attempt to evade customs duty. The misdeclaration affected the classification and valuation of the goods, justifying the confiscation. Importers were penalized under Section 112, with the penalty amount reduced to Rs. 75,000. The appellate tribunal also reduced the redemption fine from Rs. 3,00,000 to Rs. 1,50,000, considering additional factors such as demurrage costs. Case-Laws Customs Tue, 29 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108733