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2017 (8) TMI 206 - AT - CustomsConfiscation - valuation - job-work - Held that: - The adjudication held that the goods were confiscable under Section 113 of the Customs Act, 1962, when mis-declaration of value of export was established under Section 50(2) of the Customs Act, 1962. Accordingly, adjudication holding overvaluation is established. Penalty - Held that: - there is no basis for reduction in the quantum of penalty. Redemption fine - Held that: - When there is confiscation directed under Section 113 read with Section 50 of Customs Act, 1962, redemption fine is imposable and that shall be ₹ 3 lakhs. Appeal allowed - decided in favor of Revenue.
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