https://www.taxtmi.com/caselaws?id=123071 The Appellate Tribunal CESTAT, New Delhi, restored the original redemption fine and penalty imposed by the adjudicating authority in a case involving undervalued imported goods violating the Foreign Trade Policy. The Tribunal found the reduction by the Appellate Commissioner arbitrary and lacking proper justification, emphasizing the need to align fines with the market value of confiscated goods as per the Customs Act, 1962. The original fine of Rs. 2 lacs and penalty of Rs. 1 lac were deemed appropriate considering the circumstances, leading to the restoration of the initial order. en-us Tue, 23 Oct 2007 00:00:00 +0530 Fri, 22 Sep 2017 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123071 The Appellate Tribunal CESTAT, New Delhi, restored the original redemption fine and penalty imposed by the adjudicating authority in a case involving undervalued imported goods violating the Foreign Trade Policy. The Tribunal found the reduction by the Appellate Commissioner arbitrary and lacking proper justification, emphasizing the need to align fines with the market value of confiscated goods as per the Customs Act, 1962. The original fine of Rs. 2 lacs and penalty of Rs. 1 lac were deemed appropriate considering the circumstances, leading to the restoration of the initial order. Case-Laws Customs Tue, 23 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123071