https://www.taxtmi.com/caselaws?id=52485 The Appellate Tribunal CESTAT, New Delhi allowed the appeals of three appellants challenging penalties imposed under Section 114(i) of the Customs Act. The penalties were related to the confiscation of 57,000 pairs of PVC soles overvalued for DEPB benefits. The Tribunal held that goods with inflated value cannot be confiscated under Section 113(d), setting aside the penalties due to misinterpretation of relevant sections. The judgment underscored the significance of legal precedents, like a Supreme Court ruling, in determining the correct application of laws concerning confiscation of goods with inflated values under the Customs Act. en-us Wed, 12 Nov 2003 00:00:00 +0530 Wed, 06 Oct 2010 11:04:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52485 The Appellate Tribunal CESTAT, New Delhi allowed the appeals of three appellants challenging penalties imposed under Section 114(i) of the Customs Act. The penalties were related to the confiscation of 57,000 pairs of PVC soles overvalued for DEPB benefits. The Tribunal held that goods with inflated value cannot be confiscated under Section 113(d), setting aside the penalties due to misinterpretation of relevant sections. The judgment underscored the significance of legal precedents, like a Supreme Court ruling, in determining the correct application of laws concerning confiscation of goods with inflated values under the Customs Act. Case-Laws Customs Wed, 12 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52485