Redemption fine and penalty imposed by the Revenue Department without final assessment is not permissible

Held that, without finalization of the assessment, re-assessment of the bill of entry and duty paid by the assessee under Section 18(2) of the Customs Act cannot be adjusted and the duty, interest, 15% penalty in terms of Section 28(5) of the Customs Act, 1962 (“the Customs Act”) paid by the assessee is sufficient.

Source: a2ztaxcorp.com

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