https://www.taxtmi.com/caselaws?id=125373 The Tribunal partly allowed the appeal by setting aside the enhancement of value and accepting the value declared by the importers. However, the goods were still subject to confiscation under Section 111(m) for misdeclaration. The fine in lieu of confiscation was reduced to Rs. 60,000, and the penalty to Rs. 30,000, representing 10% and 5% of the goods' value, respectively. The reduction aimed to balance the penalty imposed on the importers based on Tribunal precedents and the specific circumstances of the case. en-us Thu, 09 Apr 2009 00:00:00 +0530 Wed, 26 Jul 2017 09:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125373 The Tribunal partly allowed the appeal by setting aside the enhancement of value and accepting the value declared by the importers. However, the goods were still subject to confiscation under Section 111(m) for misdeclaration. The fine in lieu of confiscation was reduced to Rs. 60,000, and the penalty to Rs. 30,000, representing 10% and 5% of the goods' value, respectively. The reduction aimed to balance the penalty imposed on the importers based on Tribunal precedents and the specific circumstances of the case. Case-Laws Customs Thu, 09 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125373