https://www.taxtmi.com/caselaws?id=325370 The Tribunal upheld the revenue's valuation adjustment of imported goods but reduced the redemption fine and penalties imposed on the appellant due to compliance efforts. Despite the appellant's attempt to comply with statutory conditions for import, violations of the Foreign Trade Policy and Handbook of Procedures led to confiscation of goods and imposition of penalties. The Tribunal acknowledged partial compliance by the appellant and deemed the initial fines excessive, reducing the redemption fine and penalties significantly. en-us Mon, 26 Oct 2015 00:00:00 +0530 Fri, 18 Mar 2016 08:04:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325370 The Tribunal upheld the revenue's valuation adjustment of imported goods but reduced the redemption fine and penalties imposed on the appellant due to compliance efforts. Despite the appellant's attempt to comply with statutory conditions for import, violations of the Foreign Trade Policy and Handbook of Procedures led to confiscation of goods and imposition of penalties. The Tribunal acknowledged partial compliance by the appellant and deemed the initial fines excessive, reducing the redemption fine and penalties significantly. Case-Laws Customs Mon, 26 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325370