https://www.taxtmi.com/caselaws?id=777475 Redemption fine and penalty in a customs misdeclaration matter were held to be excessive because they were fixed without a proper market survey and without considering the margin of profit. The Tribunal applied the principle that quantum under section 125(1) and section 112 of the Customs Act, 1962 must be proportionate and grounded in the relevant market value and profit element. Customs duty liability was left undisturbed, but the redemption fine and penalty were reduced. en-us Fri, 29 Aug 2025 00:00:00 +0530 Sat, 30 Aug 2025 08:31:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777475 Redemption fine and penalty in a customs misdeclaration matter were held to be excessive because they were fixed without a proper market survey and without considering the margin of profit. The Tribunal applied the principle that quantum under section 125(1) and section 112 of the Customs Act, 1962 must be proportionate and grounded in the relevant market value and profit element. Customs duty liability was left undisturbed, but the redemption fine and penalty were reduced. Case-Laws Customs Fri, 29 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777475