https://www.taxtmi.com/caselaws?id=271304 The Tribunal upheld the confiscation of a vessel with a redemption fine and penalty imposed on the Appellant under Section 111(f) of the Customs Act, 1962. The Appellants' arguments regarding exemption from Customs Duty and the interpretation of relevant legal provisions were considered. Despite the technical offense of failing to timely amend the Import General Manifest (IGM) and pay duty, the Tribunal reduced the redemption fine to 1 lakh and the penalty to 50,000. The judgment emphasized the Department's prior knowledge of the situation and the need for compliance with filing requirements for vessels brought from abroad. en-us Thu, 29 Oct 2015 00:00:00 +0530 Wed, 19 Oct 2016 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271304 The Tribunal upheld the confiscation of a vessel with a redemption fine and penalty imposed on the Appellant under Section 111(f) of the Customs Act, 1962. The Appellants' arguments regarding exemption from Customs Duty and the interpretation of relevant legal provisions were considered. Despite the technical offense of failing to timely amend the Import General Manifest (IGM) and pay duty, the Tribunal reduced the redemption fine to 1 lakh and the penalty to 50,000. The judgment emphasized the Department's prior knowledge of the situation and the need for compliance with filing requirements for vessels brought from abroad. Case-Laws Customs Thu, 29 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271304