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2015 (11) TMI 1401 - AT - CustomsConfiscation of goods - Proper authorization for import of rough marble blocks not taken - Contravention of Section 3 of Foreign Trade (Development and Regulations) Act, 1992 read with Section 11(2) (V) of Custom Act, 1962 - Held that:- there are some contrary judgments, also as relied upon by the Revenue wherein this Tribunal without reducing the penalty upheld the fine and penalty confirmed by the lower authority. However we observed that the facts of the import of rough marble blocks are more or less identical and in the case of Stoneman Marble Industries, Honble Supreme Court upheld the order of the Tribunal wherein redemption fine was fixed at 20% and penalty at 5% of CIF value. As regard contrary judgments of this Tribunal, in none of the case, judgment of Stoneman Marble Industries was considered. Therefore following judicial discipline, the ratio of the Apex Court judgment in case of Stoneman Marble Industries shall prevail over the other Tribunal judgments. Therefore following the ratio of the Stoneman Marble Industries case we reduce redemption fine of ₹ 16 Lakhs to 20% of CIF value and penalty of ₹ 6 lakhs is reduced 5% of the CIF value. - Decided partly in favour of assessee.
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