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2014 (3) TMI 284 - AT - CustomsRedemption fine and penalty - import of cuts of rough diamonds / semi-processed diamonds - On the basis of report, the appellant offered to pay the appropriate duty and paid duty of ₹ 1,56,725/- on 23/02/2013 and cleared the goods waiving the requirement of show-cause notice - Held that:- the confiscation of the goods under Section 111(m) is without any basis. - the appellant has cleared the goods already on payment of duty and the goods are not available for any redemption. Therefore, imposition of redemption fine under Section 125 of the Customs Act, is clearly unsustainable in law. Merely, because the appellant had initially made a claim for exemption from duty based on the documents available, it cannot be said that the appellant had misdeclared the goods. - there is no warrant for confiscation or imposition of any penalty. - Decided in favor of assessee.
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