https://www.taxtmi.com/caselaws?id=359505 The Tribunal upheld the valuation estimation of imported goods at 1 US $ per kg, based on National Import Data, reducing the penalty to 10% and the redemption fine was deemed reasonable. However, the penalty was further reduced to 5% in all appeals due to proximity of import value to NIDB data, applying principles of equity, justice, and good conscience. Consequently, the appellants received a 5% relief in penalties across all appeals, with the Tribunal partially allowing all appeals. en-us Thu, 24 Aug 2017 00:00:00 +0530 Tue, 01 May 2018 06:27:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359505 The Tribunal upheld the valuation estimation of imported goods at 1 US $ per kg, based on National Import Data, reducing the penalty to 10% and the redemption fine was deemed reasonable. However, the penalty was further reduced to 5% in all appeals due to proximity of import value to NIDB data, applying principles of equity, justice, and good conscience. Consequently, the appellants received a 5% relief in penalties across all appeals, with the Tribunal partially allowing all appeals. Case-Laws Customs Thu, 24 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359505