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2013 (9) TMI 284 - AT - CustomsAdding additional grounds - Redemption fine – Penalty - The quantum of redemption fine depended on the facts and circumstances of the case and was subject to the statutory limit prescribed u/s 125 according to which the same cannot exceed the market price – Held that:- The comparison of the declared value to the value ascertained by the chartered engineer clearly gives an indication of profit margins - it cannot be said that the redemption fines had been imposed without any basis or without conducting any enquiry - Commissioner (Appeals) had taken all relevant facts into account and used his discretion to reduce the redemption fines and penalties - The quantum of redemption fines and penalties sustained by the Commissioner (Appeals) cannot be considered either to be excessive or on the lower side - no justification to interfere with the orders of the Commissioner (Appeals) – decided in favor of revenue.
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