https://www.taxtmi.com/caselaws?id=399258 The Tribunal upheld the classification of imported goods as "calcareous stone other than marble," requiring a specific import license. The goods were deemed liable for confiscation and penalties under the Customs Act due to misdeclaration and lack of the necessary license at the time of shipment. The Tribunal reduced the redemption fine and penalty to 20% and 5% of the CIF value, respectively, remanding the cases for recalculation by the adjudicating authority. The judgment emphasized the significance of scientific classification and the relevance of the shipment date for import compliance. en-us Fri, 25 Sep 2020 00:00:00 +0530 Tue, 02 Mar 2021 10:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399258 The Tribunal upheld the classification of imported goods as "calcareous stone other than marble," requiring a specific import license. The goods were deemed liable for confiscation and penalties under the Customs Act due to misdeclaration and lack of the necessary license at the time of shipment. The Tribunal reduced the redemption fine and penalty to 20% and 5% of the CIF value, respectively, remanding the cases for recalculation by the adjudicating authority. The judgment emphasized the significance of scientific classification and the relevance of the shipment date for import compliance. Case-Laws Customs Fri, 25 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399258