https://www.taxtmi.com/caselaws?id=176603 The Appellate Tribunal CESTAT CHENNAI upheld the confiscation of imported goods and imposition of penalties due to misdeclaration of goods under the Customs Act, 1962. The misdeclaration led to concealment of goods, resulting in penalties. The Tribunal deemed the Customs' valuation reasonable, as the appellant failed to challenge it with evidence. The redemption fine was reduced to Rs. 1,00,000 from Rs. 1,50,000, considering trade margins. The penalty imposed was upheld due to deliberate misdeclaration prejudicing revenue interests. The appeal was partly allowed by adjusting the redemption fine but maintaining the penalty amount. en-us Tue, 10 Mar 2015 00:00:00 +0530 Fri, 25 Dec 2015 09:31:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176603 The Appellate Tribunal CESTAT CHENNAI upheld the confiscation of imported goods and imposition of penalties due to misdeclaration of goods under the Customs Act, 1962. The misdeclaration led to concealment of goods, resulting in penalties. The Tribunal deemed the Customs' valuation reasonable, as the appellant failed to challenge it with evidence. The redemption fine was reduced to Rs. 1,00,000 from Rs. 1,50,000, considering trade margins. The penalty imposed was upheld due to deliberate misdeclaration prejudicing revenue interests. The appeal was partly allowed by adjusting the redemption fine but maintaining the penalty amount. Case-Laws Customs Tue, 10 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176603