https://www.taxtmi.com/caselaws?id=450247 Redemption fine was held inapplicable where confiscated goods were no longer physically available, because a fine in lieu of confiscation has no practical basis when the goods have already been consumed and cannot be released. Freight, insurance and landing charges were also not added to the FOB value for assessable value purposes, as those components were ascertainable as nil on the facts and could not be notionally loaded into value. The Revenue's challenge therefore failed on both valuation and redemption fine issues, and the adjudication order was sustained. en-us Thu, 29 Feb 2024 00:00:00 +0530 Wed, 21 Aug 2024 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450247 Redemption fine was held inapplicable where confiscated goods were no longer physically available, because a fine in lieu of confiscation has no practical basis when the goods have already been consumed and cannot be released. Freight, insurance and landing charges were also not added to the FOB value for assessable value purposes, as those components were ascertainable as nil on the facts and could not be notionally loaded into value. The Revenue's challenge therefore failed on both valuation and redemption fine issues, and the adjudication order was sustained. Case-Laws Customs Thu, 29 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450247