https://www.taxtmi.com/caselaws?id=125098 The Appellate Tribunal CESTAT, Mumbai upheld the confiscation of a Liebherr Tower Crane due to misdeclaration as new instead of used under Section 111(m) of the Customs Act, 1962. The Tribunal reduced the fine to Rs. 10 lakhs and the penalty to Rs. 5 lakhs, considering the nature of the project and minimal profit of the importers. The judgment emphasized the importance of accurate declaration, matching license details with actual goods, and adjusting penalties based on specific circumstances. Transparency and compliance in import declarations were highlighted, along with the need for fairness in penalty imposition. en-us Mon, 20 Oct 2008 00:00:00 +0530 Fri, 19 Oct 2012 15:07:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125098 The Appellate Tribunal CESTAT, Mumbai upheld the confiscation of a Liebherr Tower Crane due to misdeclaration as new instead of used under Section 111(m) of the Customs Act, 1962. The Tribunal reduced the fine to Rs. 10 lakhs and the penalty to Rs. 5 lakhs, considering the nature of the project and minimal profit of the importers. The judgment emphasized the importance of accurate declaration, matching license details with actual goods, and adjusting penalties based on specific circumstances. Transparency and compliance in import declarations were highlighted, along with the need for fairness in penalty imposition. Case-Laws Customs Mon, 20 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125098