https://www.taxtmi.com/caselaws?id=264590 The High Court remanded the case to CESTAT due to the arbitrary determination of the market value of seized goods, leading to a reduction in the redemption fine. The appellant's argument that the goods were for repair and purchase from Indian traders was considered, emphasizing the need to establish non-smuggling. The court highlighted discrepancies in the appellant's explanation of the seized goods' market value. The case was remanded for a proper market value determination, imposition of a reasonable redemption fine, and penalty after granting a personal hearing to the appellant, allowing the appeal for further proceedings. en-us Fri, 11 Sep 2015 00:00:00 +0530 Mon, 28 Sep 2015 15:16:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264590 The High Court remanded the case to CESTAT due to the arbitrary determination of the market value of seized goods, leading to a reduction in the redemption fine. The appellant's argument that the goods were for repair and purchase from Indian traders was considered, emphasizing the need to establish non-smuggling. The court highlighted discrepancies in the appellant's explanation of the seized goods' market value. The case was remanded for a proper market value determination, imposition of a reasonable redemption fine, and penalty after granting a personal hearing to the appellant, allowing the appeal for further proceedings. Case-Laws Customs Fri, 11 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264590