https://www.taxtmi.com/caselaws?id=54929 Second hand photocopier machines were treated as capital goods freely importable under the Foreign Trade Policy and EXIM Policy, so confiscation, fine and penalty on that count could not be sustained. The main frame of such machines was, however, held licence-requiring and not freely importable, so confiscation and penalty were justified for that component. Valuation could not be enhanced on the basis of internet price in the absence of evidence of contemporaneous imports, and the declared transaction value had to be accepted. Redemption fine was restricted to 10% of the transaction value, while the penalty was maintained. en-us Wed, 29 Jun 2005 00:00:00 +0530 Fri, 22 Oct 2010 17:50:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54929 Second hand photocopier machines were treated as capital goods freely importable under the Foreign Trade Policy and EXIM Policy, so confiscation, fine and penalty on that count could not be sustained. The main frame of such machines was, however, held licence-requiring and not freely importable, so confiscation and penalty were justified for that component. Valuation could not be enhanced on the basis of internet price in the absence of evidence of contemporaneous imports, and the declared transaction value had to be accepted. Redemption fine was restricted to 10% of the transaction value, while the penalty was maintained. Case-Laws Customs Wed, 29 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54929