https://www.taxtmi.com/caselaws?id=347780 The Tribunal upheld the valuation of imported PVC sheets based on information provided by the importer, dismissing the appellant's challenge. Penalties under Sections 114A and 112 of the Customs Act, 1962 were upheld but reduced to exclude interest. Confiscation of seized goods and penalties were affirmed, with penalties reduced to match the duty amount. The redemption fine was lowered from Rs. 5 Lakhs to Rs. 3.5 Lakhs, with penalties upheld and reduced to equal the duty amount. The Tribunal's decision encompassed the issues of valuation, penalties, and fines under the Customs Act, 1962. en-us Wed, 19 Jul 2017 00:00:00 +0530 Tue, 12 Sep 2017 08:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347780 The Tribunal upheld the valuation of imported PVC sheets based on information provided by the importer, dismissing the appellant's challenge. Penalties under Sections 114A and 112 of the Customs Act, 1962 were upheld but reduced to exclude interest. Confiscation of seized goods and penalties were affirmed, with penalties reduced to match the duty amount. The redemption fine was lowered from Rs. 5 Lakhs to Rs. 3.5 Lakhs, with penalties upheld and reduced to equal the duty amount. The Tribunal's decision encompassed the issues of valuation, penalties, and fines under the Customs Act, 1962. Case-Laws Customs Wed, 19 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347780