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2016 (11) TMI 395 - CESTAT MUMBAIRe-assessment - Notification no. 53/97-Cus dated 3rd June 1997 - Confiscation - Penalty - Misdeclaration - 100% Export Oriented Unit - Held that: - he addition of cost element to the declared value would have rendered the value of the imports to be in excess of the value of capital goods permitted for import as it was at the time of import but not in excess of the limit as enhanced subsequently. No evidence of deliberate suppression of this with intent to evade duty is on record - It is only on the expiry of the term of the Letter of Permission that liability to duty may arise if warranted and, that too, on the depreciated value. There is no liability to customs duty at the time of import and section 14 of Customs Act, 1962, along with its attendant Rules, can be invoked only in relation to payment of duty. We agree with that contention and, considering their eligibility for duty-free import as well as the deferment of any duty liability on warehoused goods, we hold that the goods are not liable for confiscation. The recourse to penal provisions under section 112 in the impugned order without a finding that the goods are liable to confiscation under section 111 is also improper - Decided in favor of the assessee.
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