https://www.taxtmi.com/caselaws?id=203233 The Appellate Tribunal CESTAT, New Delhi confirmed the demand of a differential duty and penalties imposed under the Customs Act, 1962 on appellants involved in importing photographic products from Hong Kong and Russia. The Tribunal upheld penalties on the firm and the confiscation of goods, while reducing the penalty on the Managing Director to Rs. 5 lakhs. The decision was based on discrepancies in export declarations, reliance on a confessional statement by Revenue, rejection of declared transaction value, and detailed investigations by Customs Authorities of Hong Kong and Russia. en-us Thu, 10 Mar 2011 00:00:00 +0530 Fri, 13 May 2011 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203233 The Appellate Tribunal CESTAT, New Delhi confirmed the demand of a differential duty and penalties imposed under the Customs Act, 1962 on appellants involved in importing photographic products from Hong Kong and Russia. The Tribunal upheld penalties on the firm and the confiscation of goods, while reducing the penalty on the Managing Director to Rs. 5 lakhs. The decision was based on discrepancies in export declarations, reliance on a confessional statement by Revenue, rejection of declared transaction value, and detailed investigations by Customs Authorities of Hong Kong and Russia. Case-Laws Customs Thu, 10 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203233