https://www.taxtmi.com/caselaws?id=118471 The Hon'ble CESTAT upheld the Department's valuation under Rule 8, rejecting the transaction value and confirmed the liability to confiscation under Section 111(d) due to the import of restricted second-hand capital goods. The fine was reduced to Rs. 10 lakhs, and the penalty under Section 112 was reduced to Rs. 1 lakh. The appeal was partially allowed in favor of the importer. en-us Thu, 24 Aug 2006 00:00:00 +0530 Sat, 30 Jun 2012 18:13:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118471 The Hon'ble CESTAT upheld the Department's valuation under Rule 8, rejecting the transaction value and confirmed the liability to confiscation under Section 111(d) due to the import of restricted second-hand capital goods. The fine was reduced to Rs. 10 lakhs, and the penalty under Section 112 was reduced to Rs. 1 lakh. The appeal was partially allowed in favor of the importer. Case-Laws Customs Thu, 24 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118471