https://www.taxtmi.com/caselaws?id=248641 The judgment found the importer in violation of the EXIM Policy and undervaluation, leading to the confiscation of the car and imposition of a redemption fine and penalty. The assessable value was determined at Rs. 41,23,379.80, with a duty of Rs. 43,95,269.14 payable. Despite non-appearance of the respondent, the revenue's appeal was considered valid due to the contravention of import policy. A redemption fine of Rs. 10 lakhs and a penalty of Rs. 5 lakhs were imposed for mis-declaration. The dismissal of the C.O. concluded the legal proceedings. en-us Fri, 21 Mar 2014 00:00:00 +0530 Thu, 19 Jun 2014 03:34:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248641 The judgment found the importer in violation of the EXIM Policy and undervaluation, leading to the confiscation of the car and imposition of a redemption fine and penalty. The assessable value was determined at Rs. 41,23,379.80, with a duty of Rs. 43,95,269.14 payable. Despite non-appearance of the respondent, the revenue's appeal was considered valid due to the contravention of import policy. A redemption fine of Rs. 10 lakhs and a penalty of Rs. 5 lakhs were imposed for mis-declaration. The dismissal of the C.O. concluded the legal proceedings. Case-Laws Customs Fri, 21 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248641