https://www.taxtmi.com/caselaws?id=269549 The Tribunal upheld the confiscation of a BMW car due to non-production of a homologation certificate but reduced the fine and penalty imposed under the Customs Act, 1962. The fine was reduced to Rs. 1.5 lakhs (approximately 10% of the car's value) and the penalty to Rs. 75,000 (approximately 5% of the car's value) considering the car was used in India without commercial intent. The decision emphasized the need to balance penalties with the specific circumstances and value of the goods involved. en-us Wed, 26 Nov 2014 00:00:00 +0530 Thu, 17 Dec 2015 06:39:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269549 The Tribunal upheld the confiscation of a BMW car due to non-production of a homologation certificate but reduced the fine and penalty imposed under the Customs Act, 1962. The fine was reduced to Rs. 1.5 lakhs (approximately 10% of the car's value) and the penalty to Rs. 75,000 (approximately 5% of the car's value) considering the car was used in India without commercial intent. The decision emphasized the need to balance penalties with the specific circumstances and value of the goods involved. Case-Laws Customs Wed, 26 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269549