https://www.taxtmi.com/caselaws?id=2746 The Supreme Court set aside the Tribunal's decision to enhance the penalty and redemption fine under the Customs Act, 1962. The Court reduced the penalty to the duty amount demanded and justified the enhancement of the redemption fine to Rs. 10,00,000 based on the known market price of the goods. The appeals were disposed of, directing the Department to recalculate the penalty and fine in accordance with the Court's ruling. en-us Thu, 22 Nov 2007 00:00:00 +0530 Wed, 16 Apr 2008 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2746 The Supreme Court set aside the Tribunal's decision to enhance the penalty and redemption fine under the Customs Act, 1962. The Court reduced the penalty to the duty amount demanded and justified the enhancement of the redemption fine to Rs. 10,00,000 based on the known market price of the goods. The appeals were disposed of, directing the Department to recalculate the penalty and fine in accordance with the Court's ruling. Case-Laws Customs Thu, 22 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2746