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2014 (9) TMI 991 - AT - CustomsMis-declaration of Value of imported goods – Adjudicating authority confirmed customs duty demand along with interest thereon apart from imposing equivalent amount of penalty, as importer grossly mis-declared value of imports – Held that:- Commission Agent has admitted that data contained in computer printouts reflect correct transaction values in respect of imports made by appellant – These statements have not been retracted at any point of time – Transaction values admitted in confessional statements of importer and commission agent can straightaway be adopted for determination of value which escaped assessment and for demand of differential duty liability – Therefore, no fault can be found if assessable value is redetermined on basis of values declared in export declarations and duty liability determined accordingly – Thus differential duty liability in respect of B/Es is clearly sustainable in law. As appellant has indulged in misdeclaration of values in respect of number of consignments making goods liable to confiscation under Section 111(m), provisions of Section 114A are attracted and therefore, imposition of equivalent amount of penalty is justified – Considering significant amount of duty evaded, imposition of penalty is justified and amount of penalty imposed cannot be said to be excessive – In view of factual and legal analysis, no infirmity in impugned order – Decided against Assesse.
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