https://www.taxtmi.com/caselaws?id=53757 The case involved issues regarding the fulfillment of conditions under Notification No. 64/88-Cus for duty exemption, liability to pay duty upon confiscation of goods, calculation of duty on depreciated value versus original import value, and the quantum of redemption fine and personal penalty. The Tribunal held that duty liability arises only upon the exercise of the option to redeem the goods, duty should be calculated on the full CIF value at the time of importation, and confirmed the quantum of redemption fine and penalty imposed by the Commissioner. Compliance with exemption notification conditions was emphasized in the judgment. en-us Tue, 28 Dec 2004 00:00:00 +0530 Fri, 15 Oct 2010 10:53:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53757 The case involved issues regarding the fulfillment of conditions under Notification No. 64/88-Cus for duty exemption, liability to pay duty upon confiscation of goods, calculation of duty on depreciated value versus original import value, and the quantum of redemption fine and personal penalty. The Tribunal held that duty liability arises only upon the exercise of the option to redeem the goods, duty should be calculated on the full CIF value at the time of importation, and confirmed the quantum of redemption fine and penalty imposed by the Commissioner. Compliance with exemption notification conditions was emphasized in the judgment. Case-Laws Customs Tue, 28 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53757