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2016 (1) TMI 626 - AT - CustomsLevy of redemption fine and penalty - Import of gold for industrial use - concessional rate of 8% of duty - Notification No. 12/2002-Cus - supplier had informed them vide letter dated 21.07.2014 that he has wrongly shipped a Gold Dore Bar of 3.347 Kg under invoice No. 20/2014 dated 8.7.2014 against requirement of 5 kg as per condition of the notification. - Held that:- It is an admitted position that there was a genuine mistake of inadvertent nature. It is a fact that the goods have been imported in contravention of the license issued by DGFT, however, since the bona fide of the appellants are not in doubt and there do not appear to be any pecuniary gain to the appellant on account of such imports, it is felt that the redemption fine needs to be revised from ₹ 7 lakhs to ₹ 2 lakhs. Personal penalty is also reduced from ₹ 3.5 lakhs to ₹ 50.000/- (rupees fifty thousand only). - Decided partly in favor of appellant.
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