https://www.taxtmi.com/caselaws?id=751965 CESTAT New Delhi upheld reclassification of imported aluminum scrap from CTI 7602 00 10 to CTI 7602 00 90 and valuation redetermination under Rule 9 using LME prices. Goods were correctly confiscated under sections 111(d) and 111(o) for importing restricted items without license, but confiscation under 111(m) was set aside. Tribunal allowed redemption of confiscated goods valued at Rs. 27,48,405 on payment of Rs. 4,00,000 fine. Penalty of Rs. 4,00,000 under section 112(a) on importer was upheld, but penalties under section 114AA on both importer and partner were set aside for lack of mis-declaration with intent. en-us Mon, 29 Apr 2024 00:00:00 +0530 Wed, 01 May 2024 06:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751965 CESTAT New Delhi upheld reclassification of imported aluminum scrap from CTI 7602 00 10 to CTI 7602 00 90 and valuation redetermination under Rule 9 using LME prices. Goods were correctly confiscated under sections 111(d) and 111(o) for importing restricted items without license, but confiscation under 111(m) was set aside. Tribunal allowed redemption of confiscated goods valued at Rs. 27,48,405 on payment of Rs. 4,00,000 fine. Penalty of Rs. 4,00,000 under section 112(a) on importer was upheld, but penalties under section 114AA on both importer and partner were set aside for lack of mis-declaration with intent. Case-Laws Customs Mon, 29 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751965