https://www.taxtmi.com/caselaws?id=114983 The Appellate Tribunal CESTAT, Chennai modified the redemption fine and penalty imposed by the Commissioner of Customs on imported second-hand machinery. The Tribunal reduced the redemption fine from Rs. 16 lakhs to Rs. 8 lakhs and the penalty from Rs. 8 lakhs to Rs. 1,50,000, citing the excessive nature of the original amounts. The Tribunal found that the Commissioner had not properly considered all relevant factors in determining the fine and penalty under the Customs Act. The appeal was disposed of with the adjusted redemption fine and penalty, aligning with a previous case's approach. en-us Wed, 09 Jun 2004 00:00:00 +0530 Tue, 22 May 2012 17:34:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114983 The Appellate Tribunal CESTAT, Chennai modified the redemption fine and penalty imposed by the Commissioner of Customs on imported second-hand machinery. The Tribunal reduced the redemption fine from Rs. 16 lakhs to Rs. 8 lakhs and the penalty from Rs. 8 lakhs to Rs. 1,50,000, citing the excessive nature of the original amounts. The Tribunal found that the Commissioner had not properly considered all relevant factors in determining the fine and penalty under the Customs Act. The appeal was disposed of with the adjusted redemption fine and penalty, aligning with a previous case's approach. Case-Laws Customs Wed, 09 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114983