https://www.taxtmi.com/caselaws?id=123266 Import of old and used rollers for rolling mills was examined under the Exim Policy and customs classification framework. The goods were treated as machinery parts used in rolling mills for production and manufacture, although they were not regarded as capital goods on a strict policy reading. The import declarations on description and value were found to be correct, with no discrepancy in the import particulars. On that basis, the redemption fine and penalty were considered excessive in light of the nature of the goods, their use, and the assessed value, and were substantially reduced, granting only partial relief to the importer. en-us Tue, 11 Dec 2007 00:00:00 +0530 Tue, 11 Sep 2012 12:26:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123266 Import of old and used rollers for rolling mills was examined under the Exim Policy and customs classification framework. The goods were treated as machinery parts used in rolling mills for production and manufacture, although they were not regarded as capital goods on a strict policy reading. The import declarations on description and value were found to be correct, with no discrepancy in the import particulars. On that basis, the redemption fine and penalty were considered excessive in light of the nature of the goods, their use, and the assessed value, and were substantially reduced, granting only partial relief to the importer. Case-Laws Customs Tue, 11 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123266