https://www.taxtmi.com/caselaws?id=444137 Medicines attempted for export without the required drug licence and permission were treated as restricted goods, so confiscation was sustainable, but absolute confiscation was not justified. Valuation on an MRP basis was held excessive; the proper basis was purchase price with a reasonable trading margin. The penalty was also reduced in view of the lapse of time and the loss already suffered by the exporter. Relief was therefore granted against absolute confiscation, excessive valuation, and the original penalty quantum. en-us Wed, 06 Sep 2023 00:00:00 +0530 Tue, 10 Oct 2023 08:30:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444137 Medicines attempted for export without the required drug licence and permission were treated as restricted goods, so confiscation was sustainable, but absolute confiscation was not justified. Valuation on an MRP basis was held excessive; the proper basis was purchase price with a reasonable trading margin. The penalty was also reduced in view of the lapse of time and the loss already suffered by the exporter. Relief was therefore granted against absolute confiscation, excessive valuation, and the original penalty quantum. Case-Laws Customs Wed, 06 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444137