https://www.taxtmi.com/caselaws?id=356575 The tribunal partially allowed the appeal, setting aside certain fines, penalties, and duty demands while reducing the penalty amount. The appellant's defense against alleged overvaluation of export goods was rejected, upholding findings of overvaluation. Confiscation of goods was set aside due to unavailability, leading to the cancellation of redemption fines. The appellant was found not liable for duty, interest, and penalties as a transferor of licenses. The penalty under section 114(i) was reduced from &8377; 25 lakhs to &8377; 10 lakhs, emphasizing a balanced approach in considering duty implications. en-us Wed, 28 Feb 2018 00:00:00 +0530 Thu, 07 Mar 2019 15:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356575 The tribunal partially allowed the appeal, setting aside certain fines, penalties, and duty demands while reducing the penalty amount. The appellant's defense against alleged overvaluation of export goods was rejected, upholding findings of overvaluation. Confiscation of goods was set aside due to unavailability, leading to the cancellation of redemption fines. The appellant was found not liable for duty, interest, and penalties as a transferor of licenses. The penalty under section 114(i) was reduced from &8377; 25 lakhs to &8377; 10 lakhs, emphasizing a balanced approach in considering duty implications. Case-Laws Customs Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356575