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2009 (6) TMI 700 - CESTAT, CHENNAIExtract: .......of the Section 111(d) of the Customs Act, we reduce the fine in lieu of confiscation to Rs. 4,50,000/- (Rupees four lakhs fifty thousand only) which is approximately 15 of the declared value of the goods, and the penalty to Rs. 50,000/- (Rupees fifty thousand only). The appeal is thus partly allowed as above. (Dictated and pronounced in open court)
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