https://www.taxtmi.com/caselaws?id=756512 When confiscated goods are permitted to be re-exported, redemption fine under Section 125 of the Customs Act, 1962 is not leviable, because conditional redemption tied to compulsory re-export is not supported by the statute. The tribunal therefore set aside the redemption fine in favour of the assessee. It also found the penalty on the importer excessive on the facts, noting the existence of a pre-shipment inspection certificate and that the mismatch with the declaration arose from the supplier's conduct. The penalty was accordingly reduced, with the monetary burden on confiscation substantially moderated. en-us Fri, 02 Aug 2024 00:00:00 +0530 Mon, 05 Aug 2024 07:05:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756512 When confiscated goods are permitted to be re-exported, redemption fine under Section 125 of the Customs Act, 1962 is not leviable, because conditional redemption tied to compulsory re-export is not supported by the statute. The tribunal therefore set aside the redemption fine in favour of the assessee. It also found the penalty on the importer excessive on the facts, noting the existence of a pre-shipment inspection certificate and that the mismatch with the declaration arose from the supplier's conduct. The penalty was accordingly reduced, with the monetary burden on confiscation substantially moderated. Case-Laws Customs Fri, 02 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756512