https://www.taxtmi.com/caselaws?id=336994 Equal penalty under the customs duty provisions was upheld, while the assessee's claim to the benefit of reduced penalty required reconsideration in light of conflicting judicial views and was remanded for fresh decision. Interest could not be calculated at a uniform 24% rate for the entire period because the applicable statutory rates varied over time; the demand was therefore set aside for recomputation at the notified rates prevailing during the relevant intervals. Redemption fine was unsustainable because the goods were neither available nor seized or provisionally released, so the legal basis for confiscation-linked fine was absent, and that fine was dropped. en-us Tue, 13 Dec 2016 00:00:00 +0530 Fri, 09 Sep 2022 14:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336994 Equal penalty under the customs duty provisions was upheld, while the assessee's claim to the benefit of reduced penalty required reconsideration in light of conflicting judicial views and was remanded for fresh decision. Interest could not be calculated at a uniform 24% rate for the entire period because the applicable statutory rates varied over time; the demand was therefore set aside for recomputation at the notified rates prevailing during the relevant intervals. Redemption fine was unsustainable because the goods were neither available nor seized or provisionally released, so the legal basis for confiscation-linked fine was absent, and that fine was dropped. Case-Laws Customs Tue, 13 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336994