https://www.taxtmi.com/caselaws?id=782840 CESTAT (Allahabad) upheld the rejection of declared value and classification of imported quilted bed spreads, holding that the admitted misdeclaration, misclassification and undervaluation rendered the goods liable to confiscation under s.111(m) read with s.118 of the Customs Act, 1962. Relying on the appellant's own statements accepting the misclassification and undervaluation, the Tribunal found no merit in the appellant's legal submissions. However, it held that the redemption fine of Rs. 5 lakhs was excessive and reduced it to Rs. 2.5 lakhs. As the Bills of Entry were filed on the basis of supplier documents, penalty under s.114AA was set aside. The appeal was partly allowed. en-us Wed, 15 Oct 2025 00:00:00 +0530 Fri, 05 Dec 2025 08:12:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782840 CESTAT (Allahabad) upheld the rejection of declared value and classification of imported quilted bed spreads, holding that the admitted misdeclaration, misclassification and undervaluation rendered the goods liable to confiscation under s.111(m) read with s.118 of the Customs Act, 1962. Relying on the appellant's own statements accepting the misclassification and undervaluation, the Tribunal found no merit in the appellant's legal submissions. However, it held that the redemption fine of Rs. 5 lakhs was excessive and reduced it to Rs. 2.5 lakhs. As the Bills of Entry were filed on the basis of supplier documents, penalty under s.114AA was set aside. The appeal was partly allowed. Case-Laws Customs Wed, 15 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782840