https://www.taxtmi.com/caselaws?id=345817 The Tribunal upheld the Commissioner's decision to reduce the redemption fine to Rs. 2.5 lakhs and penalty to Rs. 75,000 from the initial amounts imposed on the exporting company for overvaluation of goods. The Tribunal found no justification to overturn the Commissioner's reasoning, which considered lack of objective parameters in valuation, costs incurred due to detention, and the company's first-time offense. Consequently, the Tribunal rejected the Revenue's appeal, affirming the reduced fines and penalties set by the Commissioner. en-us Thu, 06 Apr 2017 00:00:00 +0530 Wed, 02 Aug 2017 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345817 The Tribunal upheld the Commissioner's decision to reduce the redemption fine to Rs. 2.5 lakhs and penalty to Rs. 75,000 from the initial amounts imposed on the exporting company for overvaluation of goods. The Tribunal found no justification to overturn the Commissioner's reasoning, which considered lack of objective parameters in valuation, costs incurred due to detention, and the company's first-time offense. Consequently, the Tribunal rejected the Revenue's appeal, affirming the reduced fines and penalties set by the Commissioner. Case-Laws Customs Thu, 06 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345817