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2015 (11) TMI 1564 - AT - CustomsQuantum of redemption fine and penalty - confiscation of goods - option to redeem goods by paying redemption fine - imposition of penalties - rejection of declared value - revision of the value upwards - import of second hand photo copier machine - Held that: - photo copiers, second hand, required import license which the appellants did not possess. Thus there was violation not only of the Import & Export Policy which made the goods liable to confiscation under Rule 111(d) of the Customs Act, 1962 also apart from under Section 111(m) ibid for mis-declaration of value - fine which works out to about 25% of the reassessed value and penalty which works out to about 12% of the reassessed value cannot be called unfair, arbitrary or unreasonable - appeal dismissed - decided against appellant.
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