https://www.taxtmi.com/caselaws?id=120547 The Tribunal upheld duty liability on imports covered under the first advance license but set aside the redemption fine imposed. It rejected the fine in lieu of confiscation due to unavailability of goods. The penalty imposed under Section 112(a) of the Customs Act was reduced to Rs. 15,000 for the imports under the first license. The Tribunal granted the appellants an opportunity to regularize belated exports under the second license by obtaining orders from the DGFT, with no redemption fine if export obligations are fulfilled, and the penalty not exceeding Rs. 15,000. The case was remanded for fresh adjudication on imports under the second license. en-us Tue, 12 Dec 2006 00:00:00 +0530 Sat, 21 Jul 2012 11:30:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120547 The Tribunal upheld duty liability on imports covered under the first advance license but set aside the redemption fine imposed. It rejected the fine in lieu of confiscation due to unavailability of goods. The penalty imposed under Section 112(a) of the Customs Act was reduced to Rs. 15,000 for the imports under the first license. The Tribunal granted the appellants an opportunity to regularize belated exports under the second license by obtaining orders from the DGFT, with no redemption fine if export obligations are fulfilled, and the penalty not exceeding Rs. 15,000. The case was remanded for fresh adjudication on imports under the second license. Case-Laws Customs Tue, 12 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120547