https://www.taxtmi.com/caselaws?id=394340 The Customs appeal seeking enhancement of redemption fine and penalty was dismissed by the Tribunal due to the amounts involved being below the threshold set by the Government of India's litigation policy. On the other hand, the assessee's appeal against the fine and penalty imposed was partly allowed. The Tribunal held both the importer and the custodian liable for penalty under Section 112 of the Customs Act, 1962, but reduced the redemption fine to Rs. 2,00,000 and the penalty to Rs. 25,000 considering mitigating factors. en-us Wed, 22 Jan 2020 00:00:00 +0530 Thu, 09 Apr 2020 12:29:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394340 The Customs appeal seeking enhancement of redemption fine and penalty was dismissed by the Tribunal due to the amounts involved being below the threshold set by the Government of India's litigation policy. On the other hand, the assessee's appeal against the fine and penalty imposed was partly allowed. The Tribunal held both the importer and the custodian liable for penalty under Section 112 of the Customs Act, 1962, but reduced the redemption fine to Rs. 2,00,000 and the penalty to Rs. 25,000 considering mitigating factors. Case-Laws Customs Wed, 22 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394340