https://www.taxtmi.com/caselaws?id=387945 The Tribunal upheld the re-determination of the CIF value but reduced the redemption fine imposed on the appellant from Rs. 1,35,000 to Rs. 50,000. The penalty imposed on the appellant under Section 112(a)(iii) of the Customs Act, 1962, was set aside due to communication of delayed supply and freight payment to the Department. The impugned order was modified by reducing the redemption fine and overturning the penalty on the appellant, resulting in a favorable outcome for the appellant in the appeal. en-us Mon, 04 Nov 2019 00:00:00 +0530 Wed, 04 Nov 2020 17:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387945 The Tribunal upheld the re-determination of the CIF value but reduced the redemption fine imposed on the appellant from Rs. 1,35,000 to Rs. 50,000. The penalty imposed on the appellant under Section 112(a)(iii) of the Customs Act, 1962, was set aside due to communication of delayed supply and freight payment to the Department. The impugned order was modified by reducing the redemption fine and overturning the penalty on the appellant, resulting in a favorable outcome for the appellant in the appeal. Case-Laws Customs Mon, 04 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387945