https://www.taxtmi.com/caselaws?id=398542 The Tribunal partially allowed the appeal, reinstating the declared transaction value for assessment. Goods were confiscated due to the absence of a specific import license, upheld under Section 111(d) of the Customs Act. Redemption fine and penalty were reduced to 10% and 5% of the assessable value, respectively, emphasizing proportionality. Appellant received consequential benefits as per the law. en-us Mon, 14 Sep 2020 00:00:00 +0530 Mon, 26 Jul 2021 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398542 The Tribunal partially allowed the appeal, reinstating the declared transaction value for assessment. Goods were confiscated due to the absence of a specific import license, upheld under Section 111(d) of the Customs Act. Redemption fine and penalty were reduced to 10% and 5% of the assessable value, respectively, emphasizing proportionality. Appellant received consequential benefits as per the law. Case-Laws Customs Mon, 14 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398542