https://www.taxtmi.com/caselaws?id=754173 Restricted second-hand digital multi-function printers imported in breach of import restrictions were liable to confiscation under customs and foreign trade law, but the dispute centred on the quantum of redemption fine and penalty. As the value had been enhanced on Chartered Engineer assessment and no contrary market enquiry was shown, the Tribunal followed its consistent approach that redemption fine should ordinarily be fixed at 10% and penalty at 5% of the enhanced value. The monetary sanctions were therefore reduced accordingly, while the confiscation finding remained undisturbed. en-us Tue, 11 Jun 2024 00:00:00 +0530 Tue, 18 Jun 2024 13:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754173 Restricted second-hand digital multi-function printers imported in breach of import restrictions were liable to confiscation under customs and foreign trade law, but the dispute centred on the quantum of redemption fine and penalty. As the value had been enhanced on Chartered Engineer assessment and no contrary market enquiry was shown, the Tribunal followed its consistent approach that redemption fine should ordinarily be fixed at 10% and penalty at 5% of the enhanced value. The monetary sanctions were therefore reduced accordingly, while the confiscation finding remained undisturbed. Case-Laws Customs Tue, 11 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754173