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2007 (11) TMI 517 - CESTAT, BANGALOREQuantum of Redemption fine and penalty - validity of revision of the declared value - Held that: - confiscation had been ordered solely on the plea of non-obtaining import licence in terms of Foreign Trade Policy. The Tribunal has gone into a great detail with regard to such import and fixed redemption fine and penalty at 10% and 5% respectively of the value of the goods - Respectfully following ratio of the judgment rendered in the case of Rex Printing Press v. CC, Kolkata [2004 (12) TMI 229 - CESTAT, BANGALORE] the redemption fine and penalty in these appeals are reduced to 10% and 5% respectively of the value of the goods which has already been fixed in all these three cases - appeal allowed in part.
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