https://www.taxtmi.com/caselaws?id=216405 The High Court ruled in favor of the respondent in the appeal challenging the Tribunal's order on confiscation liability and redemption fine for a car purchased in an open market. The Court held that a bona fide purchaser of an undervalued car cleared by Customs is not liable for the redemption fine, as established in the Mohan Meakin Ltd. case. The Court emphasized that once goods are sold in the market, the Collector cannot recover valuation differences from a bona fide purchaser, affirming that the original importer is responsible for duty discrepancies. en-us Mon, 18 Apr 2011 00:00:00 +0530 Mon, 27 Aug 2012 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216405 The High Court ruled in favor of the respondent in the appeal challenging the Tribunal's order on confiscation liability and redemption fine for a car purchased in an open market. The Court held that a bona fide purchaser of an undervalued car cleared by Customs is not liable for the redemption fine, as established in the Mohan Meakin Ltd. case. The Court emphasized that once goods are sold in the market, the Collector cannot recover valuation differences from a bona fide purchaser, affirming that the original importer is responsible for duty discrepancies. Case-Laws Customs Mon, 18 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216405