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2015 (1) TMI 1209 - AT - CustomsMisdeclaration of price - Imposition of redemption fine - Re-export of goods - Held that:- Although in the case of Central Marketing Agency this Tribunal held that when the re-export of goods is allowed, in that case the redemption fine and penalty is not imposable but in the said case the item was transistors and it was found that there was a mis declaration of price. I find that in the case of Bio-Chemical Pharmaceutical Ltd Vs. C.C. Mumbai-[2004 (9) TMI 275 - CESTAT, MUMBAI], wherein a case of import of drug this Tribunal held that in case of re-export of the goods redemption fine was imposed to the extent of 1% of CIF value. Therefore, as it is a case of food item and having concern with the health of the society, therefore I hold that redemption fine is imposable on the appellant but same is reduced to 1% of the CIF value. In that case although redemption fine and confiscation was upheld but penalty was set aside. Therefore I set aside the imposition of penalty on the appellant. - redemption fine is reduced to 1% of CIF value of the impugned goods and penalty is set aside - Decided partly in favour of assessee.
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