https://www.taxtmi.com/caselaws?id=264993 The Tribunal upheld the imposition of duty on the appellant for undervaluation of imported goods, along with a penalty and redemption fine. The appellant's challenge based on a statement recorded under Section 108 of the Customs Act, 1962, was dismissed as the Tribunal found no evidence of duress. The redemption fine was reduced from &8377; 3 lakhs to &8377; 1,50,000 due to lack of market survey evidence. The penalty of &8377; 75,000 was upheld, emphasizing the obligation to make truthful declarations. The appeal was partly allowed, granting relief only in the reduction of the redemption fine. en-us Wed, 15 Apr 2015 00:00:00 +0530 Mon, 05 Oct 2015 08:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264993 The Tribunal upheld the imposition of duty on the appellant for undervaluation of imported goods, along with a penalty and redemption fine. The appellant's challenge based on a statement recorded under Section 108 of the Customs Act, 1962, was dismissed as the Tribunal found no evidence of duress. The redemption fine was reduced from &8377; 3 lakhs to &8377; 1,50,000 due to lack of market survey evidence. The penalty of &8377; 75,000 was upheld, emphasizing the obligation to make truthful declarations. The appeal was partly allowed, granting relief only in the reduction of the redemption fine. Case-Laws Customs Wed, 15 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264993