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2015 (7) TMI 148 - AT - CustomsValuation of goods - Old and used second hand imported monitors and computer parts - Held that:- Commissioner (Appeals) has already reduced the redemption fine from ₹ 3.30 Lakhs to ₹ 2.50 Lakhs and penalty from ₹ 1.30 Lakhs to ₹ 75,000/-. Ld. Advocate has brought to our notice the other decision of the Tribunal where the redemption fine was reduced to 10% and penalty to 5%. Our attention stands drawn to a latest decision of the Honble Punjab & Haryana High Courts decision in the case of B.E. Office Automation Products vide final order dated 18.11.2013, wherein the Honble High Court has held that keeping in view the element of wiping out of profit in the interface of expenditure incurred on detention and demurrage charges as also in defraying of legal expenses and interest, redemption fine of 10% of the value assessed by the department and penalty of 5% of such value would suffice. By adopting the same criteria, we reduce the redemption fine to 10% and penalty to 5% of the value of the imported goods. - Decided partly in favour of assessee.
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