https://www.taxtmi.com/caselaws?id=248810 The tribunal upheld the original order in a case involving mis-declaration of imported medical equipments. The respondent had declared the items as 'Sample medical equipments received as Gift' but actually imported them under a letter of credit against payment. The adjudicating authority imposed a redemption fine of Rs. 2,25,000/- and a penalty of Rs. 1,00,000/- under the Customs Act, 1962, which the Revenue sought to increase. However, the tribunal found the initial fine and penalty, set at around 50% and 25% of the evaded duty, respectively, to be reasonable considering the circumstances, ultimately rejecting the Revenue's appeal. en-us Fri, 31 Jan 2014 00:00:00 +0530 Tue, 25 Nov 2014 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248810 The tribunal upheld the original order in a case involving mis-declaration of imported medical equipments. The respondent had declared the items as 'Sample medical equipments received as Gift' but actually imported them under a letter of credit against payment. The adjudicating authority imposed a redemption fine of Rs. 2,25,000/- and a penalty of Rs. 1,00,000/- under the Customs Act, 1962, which the Revenue sought to increase. However, the tribunal found the initial fine and penalty, set at around 50% and 25% of the evaded duty, respectively, to be reasonable considering the circumstances, ultimately rejecting the Revenue's appeal. Case-Laws Customs Fri, 31 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248810