https://www.taxtmi.com/caselaws?id=759183 The Tribunal dismissed the Revenue's appeal, upholding the impugned order regarding the import of old and used worn clothing. The Tribunal confirmed the confiscation under Section 111(d) of the Customs Act, 1962, due to non-compliance with import licensing requirements. It reduced the redemption fine and penalty to 10% and 5% of the assessed value, respectively, emphasizing the necessity of compliance with import regulations and accurate declaration of goods. The decision was grounded in principles of justice and regulatory adherence, affirming the Commissioner's reduction of penalties while maintaining the importance of licensing compliance. en-us Wed, 28 Aug 2024 00:00:00 +0530 Thu, 26 Sep 2024 08:15:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759183 The Tribunal dismissed the Revenue's appeal, upholding the impugned order regarding the import of old and used worn clothing. The Tribunal confirmed the confiscation under Section 111(d) of the Customs Act, 1962, due to non-compliance with import licensing requirements. It reduced the redemption fine and penalty to 10% and 5% of the assessed value, respectively, emphasizing the necessity of compliance with import regulations and accurate declaration of goods. The decision was grounded in principles of justice and regulatory adherence, affirming the Commissioner's reduction of penalties while maintaining the importance of licensing compliance. Case-Laws Customs Wed, 28 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759183