https://www.taxtmi.com/caselaws?id=121688 Import of second-hand photocopiers after the Foreign Trade Policy amendment requiring a specific licence was treated as unauthorised, and a plea of bona fide belief was rejected because the restriction was express. In fixing redemption fine under the Customs Act, the Tribunal held that a market enquiry was not the relevant basis for second-hand machines; instead, a reasonable benchmark linked to the enhanced value could be applied. On that basis, the redemption fine and penalty were found to be below the comparable benchmark and were enhanced accordingly. en-us Thu, 19 Apr 2007 00:00:00 +0530 Wed, 01 Aug 2012 15:23:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121688 Import of second-hand photocopiers after the Foreign Trade Policy amendment requiring a specific licence was treated as unauthorised, and a plea of bona fide belief was rejected because the restriction was express. In fixing redemption fine under the Customs Act, the Tribunal held that a market enquiry was not the relevant basis for second-hand machines; instead, a reasonable benchmark linked to the enhanced value could be applied. On that basis, the redemption fine and penalty were found to be below the comparable benchmark and were enhanced accordingly. Case-Laws Customs Thu, 19 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121688