https://www.taxtmi.com/caselaws?id=757208 A show-cause notice for confiscation and penalty under the Customs Act is not time-barred where no statutory limitation is prescribed for confiscation proceedings; reliance on the limitation period for duty demands is inapposite. Proven misdeclaration and tampering, including alteration of the chassis number and year of manufacture, can justify confiscation under Section 111(m) and penalty under Section 112(a), and support redetermination of value under Rule 5 of the Customs Valuation Rules. Even where confiscation and valuation are sustained, the redemption fine and penalty may be reduced if the quantum is found excessive on the facts. en-us Wed, 26 Jun 2024 00:00:00 +0530 Tue, 20 Aug 2024 08:25:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757208 A show-cause notice for confiscation and penalty under the Customs Act is not time-barred where no statutory limitation is prescribed for confiscation proceedings; reliance on the limitation period for duty demands is inapposite. Proven misdeclaration and tampering, including alteration of the chassis number and year of manufacture, can justify confiscation under Section 111(m) and penalty under Section 112(a), and support redetermination of value under Rule 5 of the Customs Valuation Rules. Even where confiscation and valuation are sustained, the redemption fine and penalty may be reduced if the quantum is found excessive on the facts. Case-Laws Customs Wed, 26 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757208