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2014 (11) TMI 785 - AT - CustomsValuation of goods - Misdclaration of goods - Redemption fine and penalty - Held that:- the word ‘for amplifier is added with a malafide intention so as to justify lower assessable value of the goods. Inasmuch as there is admitted mis-declaration in the Bill of Entry, the value reflected therein, as transaction value, has to be rejected. inquiries made by the Revenue from CEAMA revealed that the computed value of the product should be US $ 11 or US $ 12. The Revenue has further taken the separate cost of various components of the product and has justifiably arrived at a lower value of US $ 8.67. The said value stand accepted by Shri Amarjit Singh Kalra, in his statement recorded during investigation. The firm vide his letter dated 30.11.08 has also accepted the said value and has agreed to collect the goods on payment of duty on the said value. In view of the above, we find no justifiable reason to interfere in the impugned order of the Commissioner as regards the value of the goods - Revenue has not conducted any inquiry in respect of margin of profit for the purpose of fixing the redemption fine. The said data is also not available before us but keeping in view the quantum of duty, which is be around ₹ 9,00,000, we reduce the redemption fine to ₹ 3,00,000 - No reason to interfere with penalty - Decided partly in favour of assessee.
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