https://www.taxtmi.com/caselaws?id=235978 The settlement accepted the revised transaction value of an imported vehicle after investigation, and the differential duty was treated as settled on the enhanced value already paid with interest subject to verification. The vehicle was held to be new, because its manufacture, export and import occurred within a short interval and an intervening ownership trail did not by itself make it second-hand; the benefit of Notification No. 21/2002-Cus. was therefore extended. Confiscation was maintained, but redemption fine and penalty were substantially reduced, and immunity from prosecution was granted. The bank guarantee and indemnity bond were directed to be discharged after recovery of the amounts ordered. en-us Fri, 19 Oct 2012 00:00:00 +0530 Sat, 10 Aug 2013 08:18:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235978 The settlement accepted the revised transaction value of an imported vehicle after investigation, and the differential duty was treated as settled on the enhanced value already paid with interest subject to verification. The vehicle was held to be new, because its manufacture, export and import occurred within a short interval and an intervening ownership trail did not by itself make it second-hand; the benefit of Notification No. 21/2002-Cus. was therefore extended. Confiscation was maintained, but redemption fine and penalty were substantially reduced, and immunity from prosecution was granted. The bank guarantee and indemnity bond were directed to be discharged after recovery of the amounts ordered. Case-Laws Customs Fri, 19 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235978