https://www.taxtmi.com/caselaws?id=210301 The Tribunal allowed the Revenue's appeal, increasing the penalty from Rs. 10,000 to Rs. 50,000. The case involved the import of restricted goods with a suppressed value, leading to duty evasion. While the redemption fine remained unchanged due to the increased duty element, the penalty was enhanced as the appellant intentionally undervalued the goods and violated import restrictions. The Tribunal found the initial penalty insufficient and raised it to Rs. 50,000, affirming the appeal and adjusting the penalty amount accordingly. en-us Wed, 13 Jul 2011 00:00:00 +0530 Tue, 22 May 2012 16:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210301 The Tribunal allowed the Revenue's appeal, increasing the penalty from Rs. 10,000 to Rs. 50,000. The case involved the import of restricted goods with a suppressed value, leading to duty evasion. While the redemption fine remained unchanged due to the increased duty element, the penalty was enhanced as the appellant intentionally undervalued the goods and violated import restrictions. The Tribunal found the initial penalty insufficient and raised it to Rs. 50,000, affirming the appeal and adjusting the penalty amount accordingly. Case-Laws Customs Wed, 13 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210301