https://www.taxtmi.com/caselaws?id=763891 CESTAT Mumbai held that recovery of redemption fine from an unpaid seller for re-exporting goods was excessive and arbitrary where no contravention was committed under the Customs Act 1962. The unpaid seller's re-export application was accepted by authorities after the importer abandoned goods. Following SC precedent in Siemens Ltd v. Collector of Customs regarding re-exportation, the tribunal reduced redemption fine from original amount to Rs. 5,00,000 while upholding penalty. Appeal was allowed in part, recognizing unpaid seller committed no violations warranting confiscation. en-us Fri, 29 Nov 2024 00:00:00 +0530 Mon, 30 Dec 2024 10:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763891 CESTAT Mumbai held that recovery of redemption fine from an unpaid seller for re-exporting goods was excessive and arbitrary where no contravention was committed under the Customs Act 1962. The unpaid seller's re-export application was accepted by authorities after the importer abandoned goods. Following SC precedent in Siemens Ltd v. Collector of Customs regarding re-exportation, the tribunal reduced redemption fine from original amount to Rs. 5,00,000 while upholding penalty. Appeal was allowed in part, recognizing unpaid seller committed no violations warranting confiscation. Case-Laws Customs Fri, 29 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763891