https://www.taxtmi.com/caselaws?id=449057 The Tribunal upheld the confiscation of imported old and used worn clothing under Section 111(d) of the Customs Act, 1962, due to the lack of a required import license as per the Foreign Trade Policy. The goods were classified under Tariff Item No. 63090000, which restricts import without a specific license. The Tribunal reduced the redemption fine and penalty from 30% and 10% to 10% and 5% of the assessed value, respectively, aligning with a prior decision. The appeals filed by the Revenue were dismissed, affirming the sufficiency of the imposed fines and penalties. en-us Wed, 31 Jan 2024 00:00:00 +0530 Mon, 05 Feb 2024 08:43:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449057 The Tribunal upheld the confiscation of imported old and used worn clothing under Section 111(d) of the Customs Act, 1962, due to the lack of a required import license as per the Foreign Trade Policy. The goods were classified under Tariff Item No. 63090000, which restricts import without a specific license. The Tribunal reduced the redemption fine and penalty from 30% and 10% to 10% and 5% of the assessed value, respectively, aligning with a prior decision. The appeals filed by the Revenue were dismissed, affirming the sufficiency of the imposed fines and penalties. Case-Laws Customs Wed, 31 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449057