https://www.taxtmi.com/caselaws?id=124831 The Tribunal reduced the redemption fine to Rs. 1,000/- per container and the penalty to Rs. 500/- for the appellant, a shipping line/steamer agent, in an appeal against an order confirming duty, confiscating containers, and imposing penalties. The Tribunal accepted the argument that duty should be based on scrap value rather than the higher value determined by authorities, ultimately reducing the redemption fine and penalty imposed. The containers were held liable for confiscation under Section 111(o) of the Customs Act, 1962, due to the failure to re-export within the specified time. en-us Wed, 01 Oct 2008 00:00:00 +0530 Tue, 16 Oct 2012 12:46:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=124831 The Tribunal reduced the redemption fine to Rs. 1,000/- per container and the penalty to Rs. 500/- for the appellant, a shipping line/steamer agent, in an appeal against an order confirming duty, confiscating containers, and imposing penalties. The Tribunal accepted the argument that duty should be based on scrap value rather than the higher value determined by authorities, ultimately reducing the redemption fine and penalty imposed. The containers were held liable for confiscation under Section 111(o) of the Customs Act, 1962, due to the failure to re-export within the specified time. Case-Laws Customs Wed, 01 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=124831