https://www.taxtmi.com/highlights?id=76325 Levy of redemption fine and penalty - valuation of imported goods - brass scrap - The appellate tribunal noted the absence of a market survey conducted by the adjudicating authority for quantifying the redemption fine. However, considering that the appellant did not contest the enhancement of the goods' value and lack of evidence of deliberate misdeclaration, the tribunal reduced the redemption fine to Rs. 2,50,000 and penalty amount reduced to Rs. 20,000. en-us Thu, 04 Apr 2024 05:14:13 +0530 Thu, 04 Apr 2024 05:14:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=76325 Levy of redemption fine and penalty - valuation of imported goods - brass scrap - The appellate tribunal noted the absence of a market survey conducted by the adjudicating authority for quantifying the redemption fine. However, considering that the appellant did not contest the enhancement of the goods' value and lack of evidence of deliberate misdeclaration, the tribunal reduced the redemption fine to Rs. 2,50,000 and penalty amount reduced to Rs. 20,000. Highlights Customs Thu, 04 Apr 2024 05:14:13 +0530 https://www.taxtmi.com/highlights?id=76325