Goods imported without valid licence liable to confiscation & redemption fine : SC

Brief facts It has been held in case of Commissioner Of Customs (Import) V/s. M/S. Finacord Chemicals (P) Ltd. & Ors. it was held by supreme court that, In August, 1991, respondent herein imported  certain containers of  alcohol  under  the description  “Undenatured Ethyl Alcohol’ (Malt Spirit plus or minus 59.3% Vol.) from an  intermediary, M/s. Ravco International Ltd., England (hereinafter  referred  to  as  ‘RIL'(for short).  As per the Department, these imports were under invoiced at pound 1.40 per litre whereas the actual price of the said goods was pound 3.7...