https://www.taxtmi.com/caselaws?id=426822 The Tribunal set aside the confiscation of goods and penalties imposed under the Customs Act, 1962, due to discrepancies in evaluating the goods and failure to ascertain market value. The appellant's duty liability on imported goods was revised, leading to confiscation and penalties, which the Tribunal found unjust considering the circumstances. The Tribunal directed customs authorities to assess and allow the goods for export in compliance with the Customs Act, 1962, emphasizing the need for correct application of duty rates and consideration of market value limitations on fines for confiscated goods. en-us Fri, 12 Aug 2022 00:00:00 +0530 Fri, 26 Aug 2022 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426822 The Tribunal set aside the confiscation of goods and penalties imposed under the Customs Act, 1962, due to discrepancies in evaluating the goods and failure to ascertain market value. The appellant's duty liability on imported goods was revised, leading to confiscation and penalties, which the Tribunal found unjust considering the circumstances. The Tribunal directed customs authorities to assess and allow the goods for export in compliance with the Customs Act, 1962, emphasizing the need for correct application of duty rates and consideration of market value limitations on fines for confiscated goods. Case-Laws Customs Fri, 12 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426822