https://www.taxtmi.com/caselaws?id=109936 The Appellate Tribunal reduced the redemption fine from Rs. 40 lakhs to Rs. 24 lakhs and the penalty from Rs. 10 lakhs to Rs. 2.5 lakhs imposed by the Commissioner of Customs on used diesel engines imported by the appellant. The Tribunal found the fines excessive and lacking a basis in market enquiry or evidence, aiming to rectify the unreasonably high penalties imposed. en-us Mon, 22 Sep 1997 00:00:00 +0530 Fri, 13 Apr 2012 10:45:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109936 The Appellate Tribunal reduced the redemption fine from Rs. 40 lakhs to Rs. 24 lakhs and the penalty from Rs. 10 lakhs to Rs. 2.5 lakhs imposed by the Commissioner of Customs on used diesel engines imported by the appellant. The Tribunal found the fines excessive and lacking a basis in market enquiry or evidence, aiming to rectify the unreasonably high penalties imposed. Case-Laws Customs Mon, 22 Sep 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109936