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2012 (6) TMI 644 - CESTAT, NEW DELHIIndo Sri Lanka Free Trade Agreement - Duty free clearances - Notification No.2/07-Cus dated 5.1.2007 - non-confirmation to the standard specified in the PFA ACT - Redemption fine of Rs.10 lakhs and penalty of Rs.5 lakh - Held that:- On being intimated about the discrepancies appellant immediately contacted foreign suppler who accepted the re-export of the same, thus the imposition of penalty upon the importer is not justified - reduce the redemption fine in the present case to Rs.3.5 lakhs considering subject matter of earlier proceedings in respect of the same appellant.
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