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2017 (12) TMI 1178 - AT - CustomsValuation - imported cut & polished Diamonds - redemption fine - Held that: - when value of diamonds imported was mis-declared and that was confiscated, imposition of a token redemption fine of ₹ 5,00,000/- under misplaced sympathy is liable to criticism - So also when there was huge difference in the value declared and determined, establishing deliberate mis-declaration, levy of penalty of ₹ 5 lakhs also appears to be too low and is an incentive to wrong doing. Appeal dismissed - decided against appellant.
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