https://www.taxtmi.com/caselaws?id=4673 The Tribunal reduced the redemption fine in a customs case involving Sandalwood oil from Rs. 5 lakhs to Rs. 50,000. The appellant's appeal against the excessive fine was successful as the Commissioner accepted the market value of the goods at Rs. 7 lakhs to Rs. 8 lakhs, leading to the conclusion that the initial redemption fine was disproportionate. The Tribunal considered the depreciation in the value of the goods since seizure in 2003 and adjusted the fine to ensure fairness and justice for the appellant. en-us Wed, 27 Feb 2008 00:00:00 +0530 Sat, 19 Jul 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4673 The Tribunal reduced the redemption fine in a customs case involving Sandalwood oil from Rs. 5 lakhs to Rs. 50,000. The appellant's appeal against the excessive fine was successful as the Commissioner accepted the market value of the goods at Rs. 7 lakhs to Rs. 8 lakhs, leading to the conclusion that the initial redemption fine was disproportionate. The Tribunal considered the depreciation in the value of the goods since seizure in 2003 and adjusted the fine to ensure fairness and justice for the appellant. Case-Laws Customs Wed, 27 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4673