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2015 (12) TMI 1637 - CESTAT HYDERABADProvisional assessment u/s 18 of CA, 1962 - penalties u/s 114A and 112(a) of Customs Act, 1962 - Held that: - it would appear that the appeal confuses provisional release of seized goods with provisional assessment. Provisional assessment under Section 18 of Customs Act, 1962 is subject to furnishing a bond and appropriate security for payment of differential duty - The suspicion of undervalued imports led to provisional assessment in the present matter. The statute permits recovery of differential duty and interest. Penalty u/s 112 can be invoked only in relation to goods liable for confiscation. An order of confiscation is not a pre-condition for imposition of penalty. A finding of confiscability suffices for such penal action - The imposition of penalty u/s 112 of Customs Act, 1962 on M/s. Truwoods Pvt. Ltd. is based on such finding. There is, therefore, no lacuna in the impugned order in not having confiscated the imported goods and in not having quantified a fine for redemption of confiscated goods - appeal dismissed - decided against Revenue.
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