https://www.taxtmi.com/caselaws?id=210697 The Tribunal upheld the decision of the Commissioner (Appeals) to reduce the redemption fine to Rs. 2.50 lakhs and the penalty to Rs. 5000 in a case involving the import of old photocopier machines. The Tribunal clarified that Section 115(2) of the Act only sets a maximum limit for the redemption fine, and various factors must be considered in determining the actual amount. Factors such as expenses incurred by the respondent and minimal profit margin were taken into account. The Tribunal found the reduced fine and penalty justified, considering factors like duty payment and profit margin, and rejected the Revenue's appeal. en-us Thu, 04 Aug 2011 00:00:00 +0530 Thu, 28 Jun 2012 13:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210697 The Tribunal upheld the decision of the Commissioner (Appeals) to reduce the redemption fine to Rs. 2.50 lakhs and the penalty to Rs. 5000 in a case involving the import of old photocopier machines. The Tribunal clarified that Section 115(2) of the Act only sets a maximum limit for the redemption fine, and various factors must be considered in determining the actual amount. Factors such as expenses incurred by the respondent and minimal profit margin were taken into account. The Tribunal found the reduced fine and penalty justified, considering factors like duty payment and profit margin, and rejected the Revenue's appeal. Case-Laws Customs Thu, 04 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210697