https://www.taxtmi.com/caselaws?id=237789 The Appellate Tribunal CESTAT MUMBAI reduced the penalty imposed on the appellant for importing turtle shells without a permit under the CITES agreement. The Tribunal found the valuation of the shells by the Customs authorities at Rs.1,50,000 to be unsupported and accepted the appellant's valuation of Rs.3500. The penalty was reduced from Rs.25,000 to Rs.2500 due to the restricted nature of the item and violation of import regulations, emphasizing the importance of accurate valuation and compliance with international agreements like CITES. en-us Tue, 23 Jul 2013 00:00:00 +0530 Tue, 08 Oct 2013 07:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237789 The Appellate Tribunal CESTAT MUMBAI reduced the penalty imposed on the appellant for importing turtle shells without a permit under the CITES agreement. The Tribunal found the valuation of the shells by the Customs authorities at Rs.1,50,000 to be unsupported and accepted the appellant's valuation of Rs.3500. The penalty was reduced from Rs.25,000 to Rs.2500 due to the restricted nature of the item and violation of import regulations, emphasizing the importance of accurate valuation and compliance with international agreements like CITES. Case-Laws Customs Tue, 23 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237789