https://www.taxtmi.com/caselaws?id=209265 The Tribunal ruled in favor of the importer in a case involving misdeclaration of the value of imported goods under the EPCG Scheme. It found that there was no deliberate intent to evade duty, as the correct value was submitted to the DGFT for the EPCG license. The Tribunal deemed the confiscation of goods under Sections 111(m) & (o) of the Customs Act improper, reducing the quantum of the fine imposed. Penalties under Section 112 were also reduced, considering the transparent conduct of the importer and the inadvertent nature of the mistake. The judgment emphasized transparency in import transactions and distinguished between inadvertent errors and deliberate misconduct. en-us Fri, 11 Mar 2011 00:00:00 +0530 Thu, 25 Jul 2013 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209265 The Tribunal ruled in favor of the importer in a case involving misdeclaration of the value of imported goods under the EPCG Scheme. It found that there was no deliberate intent to evade duty, as the correct value was submitted to the DGFT for the EPCG license. The Tribunal deemed the confiscation of goods under Sections 111(m) & (o) of the Customs Act improper, reducing the quantum of the fine imposed. Penalties under Section 112 were also reduced, considering the transparent conduct of the importer and the inadvertent nature of the mistake. The judgment emphasized transparency in import transactions and distinguished between inadvertent errors and deliberate misconduct. Case-Laws Customs Fri, 11 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209265