https://www.taxtmi.com/caselaws?id=54797 The Tribunal upheld the decision of confiscation, denial of drawback, and imposition of penalty, acknowledging the misdeclaration by the appellant. The penalty was reduced to Rs. 5 lakhs, considering the potential drawback benefit. The judgment emphasized the importance of accurate declaration in Shipping Bills and adherence to market value for drawback claims, citing legal principles governing such cases. en-us Tue, 18 Oct 2005 00:00:00 +0530 Fri, 22 Oct 2010 11:04:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54797 The Tribunal upheld the decision of confiscation, denial of drawback, and imposition of penalty, acknowledging the misdeclaration by the appellant. The penalty was reduced to Rs. 5 lakhs, considering the potential drawback benefit. The judgment emphasized the importance of accurate declaration in Shipping Bills and adherence to market value for drawback claims, citing legal principles governing such cases. Case-Laws Customs Tue, 18 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54797