https://www.taxtmi.com/caselaws?id=761859 CESTAT Chennai reduced excessive fine and penalty imposed for customs valuation dispute. Original fine of Rs.3,25,000 and penalty of Rs.1,50,000 were deemed disproportionate for non-deliberate contravention involving goods valued at Rs.6,54,349. Tribunal found no revenue loss or deliberate duty evasion, distinguishing between bona fide mistake and dishonest non-compliance. Citing judicial discretion principles, CESTAT moderated sanctions to Rs.6,500 fine and Rs.1,000 penalty, emphasizing proportionality in penalty imposition for statutory breaches without malicious intent. en-us Mon, 18 Nov 2024 00:00:00 +0530 Tue, 19 Nov 2024 08:40:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761859 CESTAT Chennai reduced excessive fine and penalty imposed for customs valuation dispute. Original fine of Rs.3,25,000 and penalty of Rs.1,50,000 were deemed disproportionate for non-deliberate contravention involving goods valued at Rs.6,54,349. Tribunal found no revenue loss or deliberate duty evasion, distinguishing between bona fide mistake and dishonest non-compliance. Citing judicial discretion principles, CESTAT moderated sanctions to Rs.6,500 fine and Rs.1,000 penalty, emphasizing proportionality in penalty imposition for statutory breaches without malicious intent. Case-Laws Customs Mon, 18 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761859