https://www.taxtmi.com/caselaws?id=43653 The court found that the Additional Collector of Customs failed to consider the market price on the date of importation when imposing a redemption fine and penalty. The court emphasized that the redemption fine should reflect the maximum profit possible. The Collector's decision to enhance the redemption fine based on the market price at the date of adjudication was incorrect. The court emphasized the importance of providing a hearing before exercising powers under section 129D and clarified that the date of importation is crucial for determining the market price. The court set aside previous orders and directed a fresh adjudication with specific instructions for the Additional Collector. en-us Fri, 09 Jul 1993 00:00:00 +0530 Sat, 19 Jun 2010 12:26:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=43653 The court found that the Additional Collector of Customs failed to consider the market price on the date of importation when imposing a redemption fine and penalty. The court emphasized that the redemption fine should reflect the maximum profit possible. The Collector's decision to enhance the redemption fine based on the market price at the date of adjudication was incorrect. The court emphasized the importance of providing a hearing before exercising powers under section 129D and clarified that the date of importation is crucial for determining the market price. The court set aside previous orders and directed a fresh adjudication with specific instructions for the Additional Collector. Case-Laws Customs Fri, 09 Jul 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=43653