https://www.taxtmi.com/caselaws?id=125760 The Tribunal upheld the finding that imported power looms were mis-declared as 1993 make, violating regulations. The declared value of looms was deemed reasonable, and the valuation of Jacquard machines was adjusted separately. Confiscation of looms was upheld but with a reduced redemption fine. Confiscation and fines on Jacquard machines were set aside. Penalties on the company were reduced, and penalties on the Director and Manager were dismissed due to lack of evidence of direct involvement. The company's appeal was partly allowed, while the appeals of the Director and Manager were fully allowed. en-us Fri, 02 Jan 2009 00:00:00 +0530 Mon, 29 Oct 2012 18:31:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125760 The Tribunal upheld the finding that imported power looms were mis-declared as 1993 make, violating regulations. The declared value of looms was deemed reasonable, and the valuation of Jacquard machines was adjusted separately. Confiscation of looms was upheld but with a reduced redemption fine. Confiscation and fines on Jacquard machines were set aside. Penalties on the company were reduced, and penalties on the Director and Manager were dismissed due to lack of evidence of direct involvement. The company's appeal was partly allowed, while the appeals of the Director and Manager were fully allowed. Case-Laws Customs Fri, 02 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125760