https://www.taxtmi.com/caselaws?id=53548 The Tribunal upheld the demand of Customs duty against the Appellant-Company for the enhanced assessable value of imported goods. The redemption fine imposed on the company was set aside, and penalties under Section 112 of the Customs Act were reduced, with penalties on the Managing Director being entirely set aside. The Tribunal justified the imposition of penalties based on the misdeclaration of assessable value but considered the specific circumstances of the case in reducing the penalties. en-us Mon, 20 Dec 2004 00:00:00 +0530 Wed, 13 Oct 2010 18:09:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53548 The Tribunal upheld the demand of Customs duty against the Appellant-Company for the enhanced assessable value of imported goods. The redemption fine imposed on the company was set aside, and penalties under Section 112 of the Customs Act were reduced, with penalties on the Managing Director being entirely set aside. The Tribunal justified the imposition of penalties based on the misdeclaration of assessable value but considered the specific circumstances of the case in reducing the penalties. Case-Laws Customs Mon, 20 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53548