https://www.taxtmi.com/caselaws?id=235869 The Tribunal found a violation of Section 111(m) of the Customs Act due to the incorrect declaration of value in the Bill of Entry. Despite acknowledging the error, the Tribunal reduced the redemption fine from Rs. 5 lakhs to Rs. 3 lakhs and the penalty from Rs. 25,000 to Rs. 12,000. The Tribunal granted relief to the appellant by further reducing the redemption fine and penalty amounts, reflecting a balanced approach in addressing the issues raised. en-us Thu, 20 Jun 2013 00:00:00 +0530 Sat, 20 Jul 2013 12:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235869 The Tribunal found a violation of Section 111(m) of the Customs Act due to the incorrect declaration of value in the Bill of Entry. Despite acknowledging the error, the Tribunal reduced the redemption fine from Rs. 5 lakhs to Rs. 3 lakhs and the penalty from Rs. 25,000 to Rs. 12,000. The Tribunal granted relief to the appellant by further reducing the redemption fine and penalty amounts, reflecting a balanced approach in addressing the issues raised. Case-Laws Customs Thu, 20 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235869