https://www.taxtmi.com/caselaws?id=331764 The Appellate Tribunal CESTAT CHENNAI upheld the imposition of a redemption fine of 10% of the goods' value, amounting to &8377; 1,80,000, due to undervaluation of imported goods. The Tribunal found the fine justified in light of the circumstances surrounding the import process. Additionally, the penalty under section 112(a) of the Customs Act, 1962 was appropriately imposed for mis-declaration but was reduced to &8377; 1,00,000. The Tribunal partially allowed the appeal, acknowledging the mis-declaration and the consequent penalty while addressing the issues raised in the case. en-us Mon, 25 Jul 2016 00:00:00 +0530 Thu, 01 Sep 2016 15:20:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331764 The Appellate Tribunal CESTAT CHENNAI upheld the imposition of a redemption fine of 10% of the goods' value, amounting to &8377; 1,80,000, due to undervaluation of imported goods. The Tribunal found the fine justified in light of the circumstances surrounding the import process. Additionally, the penalty under section 112(a) of the Customs Act, 1962 was appropriately imposed for mis-declaration but was reduced to &8377; 1,00,000. The Tribunal partially allowed the appeal, acknowledging the mis-declaration and the consequent penalty while addressing the issues raised in the case. Case-Laws Customs Mon, 25 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331764