https://www.taxtmi.com/caselaws?id=349145 The tribunal ruled in favor of the revenue on issues concerning misclassification, duty evasion, valuation, confiscation, redemption fine, and penalty. The appellant's challenges against the classification, duty levy, valuation, and confiscation were not accepted, leading to the goods being liable for confiscation. The tribunal reduced the redemption fine from Rs. 12 lakhs to Rs. 5,00,000 based on market selling price considerations. Additionally, a penalty of Rs. 5,00,000 was imposed for deliberate misdeclaration, which was upheld by the tribunal due to established evidence of misdeclaration. en-us Tue, 29 Aug 2017 00:00:00 +0530 Thu, 21 Feb 2019 14:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349145 The tribunal ruled in favor of the revenue on issues concerning misclassification, duty evasion, valuation, confiscation, redemption fine, and penalty. The appellant's challenges against the classification, duty levy, valuation, and confiscation were not accepted, leading to the goods being liable for confiscation. The tribunal reduced the redemption fine from Rs. 12 lakhs to Rs. 5,00,000 based on market selling price considerations. Additionally, a penalty of Rs. 5,00,000 was imposed for deliberate misdeclaration, which was upheld by the tribunal due to established evidence of misdeclaration. Case-Laws Customs Tue, 29 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349145