https://www.taxtmi.com/caselaws?id=264150 The tribunal confirmed the demand of the appellant to pay a differential customs duty of Rs. 10,02,48,538/- for not using imported machinery for the intended purpose, resulting in a breach of concessional benefits conditions. The tribunal also upheld the confiscation of seized goods valued at Rs. 23 crores with a redemption fine of Rs. 2.30 crores. The penalty initially imposed was reduced from Rs. 10,02,48,538/- to Rs. 2,50,00,000/-. The enforcement of the bond and bank guarantee executed by the appellant was upheld. en-us Mon, 10 Aug 2015 00:00:00 +0530 Fri, 18 Sep 2015 06:47:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264150 The tribunal confirmed the demand of the appellant to pay a differential customs duty of Rs. 10,02,48,538/- for not using imported machinery for the intended purpose, resulting in a breach of concessional benefits conditions. The tribunal also upheld the confiscation of seized goods valued at Rs. 23 crores with a redemption fine of Rs. 2.30 crores. The penalty initially imposed was reduced from Rs. 10,02,48,538/- to Rs. 2,50,00,000/-. The enforcement of the bond and bank guarantee executed by the appellant was upheld. Case-Laws Customs Mon, 10 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264150