https://www.taxtmi.com/caselaws?id=347025 The Tribunal allowed the appeal partially by reducing fines and penalties imposed on importers. The declared value, supported by the original Chartered Engineer certificate, was upheld, rejecting the local assessment. The confiscation of imported goods over ten years old was deemed valid under the Customs Act. The Tribunal reduced the redemption fine to Rs. 60,000 and penalty to Rs. 30,000, considering the circumstances. en-us Mon, 12 Jun 2017 00:00:00 +0530 Mon, 28 Aug 2017 09:57:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347025 The Tribunal allowed the appeal partially by reducing fines and penalties imposed on importers. The declared value, supported by the original Chartered Engineer certificate, was upheld, rejecting the local assessment. The confiscation of imported goods over ten years old was deemed valid under the Customs Act. The Tribunal reduced the redemption fine to Rs. 60,000 and penalty to Rs. 30,000, considering the circumstances. Case-Laws Customs Mon, 12 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347025