https://www.taxtmi.com/caselaws?id=121950 In customs matters, redemption fine and personal penalty must be fixed on a proper factual basis, including market value, margin of profit, and relevant charges such as demurrage or detention. Where the original adjudication makes no proper market verification and the quantum appears arbitrary, a reduced fine and penalty may be supported on appeal. The document notes that import of used tyres was treated as contrary to DGFT Notification No. 2(RE-2006) 2004-2009, but the appellate reduction was upheld because the record indicated only a nominal margin of profit and inadequate enquiry into the appropriate quantum. en-us Thu, 26 Jul 2007 00:00:00 +0530 Tue, 07 Aug 2012 14:30:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121950 In customs matters, redemption fine and personal penalty must be fixed on a proper factual basis, including market value, margin of profit, and relevant charges such as demurrage or detention. Where the original adjudication makes no proper market verification and the quantum appears arbitrary, a reduced fine and penalty may be supported on appeal. The document notes that import of used tyres was treated as contrary to DGFT Notification No. 2(RE-2006) 2004-2009, but the appellate reduction was upheld because the record indicated only a nominal margin of profit and inadequate enquiry into the appropriate quantum. Case-Laws Customs Thu, 26 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121950