https://www.taxtmi.com/caselaws?id=389188 The Tribunal reduced the redemption fine imposed under Section 125 of the Customs Act from Rs. 21,00,000 to Rs. 7,50,000, considering the market value at the time of seizure. The penalty under Section 112(a) was set aside as it was increased in De novo proceedings beyond the initially imposed Rs. 1,00,000, which had become final. The judgment stressed the importance of determining seized goods' value at the time of seizure and maintaining consistency in penalties. en-us Fri, 29 Nov 2019 00:00:00 +0530 Tue, 03 Dec 2019 11:03:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389188 The Tribunal reduced the redemption fine imposed under Section 125 of the Customs Act from Rs. 21,00,000 to Rs. 7,50,000, considering the market value at the time of seizure. The penalty under Section 112(a) was set aside as it was increased in De novo proceedings beyond the initially imposed Rs. 1,00,000, which had become final. The judgment stressed the importance of determining seized goods' value at the time of seizure and maintaining consistency in penalties. Case-Laws Customs Fri, 29 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389188