https://www.taxtmi.com/caselaws?id=278897 The Revision Application was dismissed by the court, upholding the Commissioner (Appeals)'s decision on the redemption fine and penalty for confiscated gold illegally imported from Abu Dhabi. The court emphasized that the redemption fine is determined based on the value of the confiscated goods, not the profit margin, rejecting the applicant's argument for a reduction based on profit margin considerations. The court deemed the applicant's stance unreasonable as it would result in no redemption fine for goods without a profit margin, ultimately leading to the dismissal of the revision application. en-us Mon, 02 Apr 2018 00:00:00 +0530 Sun, 24 Feb 2019 14:02:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278897 The Revision Application was dismissed by the court, upholding the Commissioner (Appeals)'s decision on the redemption fine and penalty for confiscated gold illegally imported from Abu Dhabi. The court emphasized that the redemption fine is determined based on the value of the confiscated goods, not the profit margin, rejecting the applicant's argument for a reduction based on profit margin considerations. The court deemed the applicant's stance unreasonable as it would result in no redemption fine for goods without a profit margin, ultimately leading to the dismissal of the revision application. Case-Laws Customs Mon, 02 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278897