https://www.taxtmi.com/caselaws?id=54487 The Tribunal overturned the Commissioner's enhanced valuation, directing assessment based on the importer's declared transaction value. Confiscation of goods was upheld due to import without a license, consistent with the DGFT's Policy Circular. The redemption fine was reduced to Rs. 3,00,000/-, and the penalty was decreased to Rs. 75,000/-. The appeal was disposed of accordingly. en-us Tue, 01 Mar 2005 00:00:00 +0530 Mon, 13 May 2024 18:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54487 The Tribunal overturned the Commissioner's enhanced valuation, directing assessment based on the importer's declared transaction value. Confiscation of goods was upheld due to import without a license, consistent with the DGFT's Policy Circular. The redemption fine was reduced to Rs. 3,00,000/-, and the penalty was decreased to Rs. 75,000/-. The appeal was disposed of accordingly. Case-Laws Customs Tue, 01 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54487