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2015 (11) TMI 1397 - AT - CustomsValuation - import of old and used monitors - restricted items - Confiscation of goods - Imposition of redemption fine and penalty - Misdeclaration of goods - Held that:- As per the facts of the case, the appellant has mis-declared the description of the goods and on examination; the imported monitors were found to be used and old. As per the Exim Policy import of old and used items can be made only on the import licence. The appellant fail to comply this requirement of the policy, therefore the goods were rightly confiscated. However, we find that the value of the goods declared and enhanced by the Customs Authority is not much different. The enhancement is only to the tune of ₹ 94,682/- which is not significant. Redemption fine and penalty is reduced - Decided partly in favour of assessee.
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