https://www.taxtmi.com/caselaws?id=349212 The Tribunal partially allowed the appeal by reducing the redemption fine and penalty imposed on the appellant under the Customs Act. This decision was based on the acknowledgment of smuggling and contumacious conduct but also considered the discrepancy between the appraised value of the diamonds and the actual purchase price. As a result, the redemption fine was reduced to &8377; 3,50,000 and the penalty to &8377; 1,50,000 to align with the actual value of the purchased diamonds, ensuring justice while upholding penalties for the offenses committed. en-us Mon, 07 Aug 2017 00:00:00 +0530 Mon, 09 Oct 2017 11:26:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349212 The Tribunal partially allowed the appeal by reducing the redemption fine and penalty imposed on the appellant under the Customs Act. This decision was based on the acknowledgment of smuggling and contumacious conduct but also considered the discrepancy between the appraised value of the diamonds and the actual purchase price. As a result, the redemption fine was reduced to &8377; 3,50,000 and the penalty to &8377; 1,50,000 to align with the actual value of the purchased diamonds, ensuring justice while upholding penalties for the offenses committed. Case-Laws Customs Mon, 07 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349212