https://www.taxtmi.com/caselaws?id=153481 Import in contravention of the EXIM policy was treated as liable to confiscation under Section 111(d) of the Customs Act, with penalty under Section 112 also attracted. The commentary notes that redemption fine should ordinarily correspond to the profit element in such cases, but the absence of any proper calculation in the original order supported reduction. It further states that total waiver was not justified merely because the importer suffered loss after duty was paid on the enhanced value. On the circumstances discussed, both the redemption fine and penalty were reduced, giving the importer partial relief. en-us Thu, 17 Sep 2009 00:00:00 +0530 Wed, 24 Jul 2013 11:01:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=153481 Import in contravention of the EXIM policy was treated as liable to confiscation under Section 111(d) of the Customs Act, with penalty under Section 112 also attracted. The commentary notes that redemption fine should ordinarily correspond to the profit element in such cases, but the absence of any proper calculation in the original order supported reduction. It further states that total waiver was not justified merely because the importer suffered loss after duty was paid on the enhanced value. On the circumstances discussed, both the redemption fine and penalty were reduced, giving the importer partial relief. Case-Laws Customs Thu, 17 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=153481