Appellant's Mis-declared Luxury Car Valuation Rejected; Redemption Fine Reduced, Penalties Removed.

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....Import of high end luxury cars from various foreign suppliers by mis-declaring as new - Undervaluation of goods - Appellant is a subsequent purchase of the car - the contention that valuation of the car and that the car is not an old car is not acceptable - redemption fine reduced to ₹ 5 lakhs - penalties set aside - AT....