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2016 (12) TMI 1154 - AT - CustomsIrregular importation of marble slabs - mis-declaration of value - redemption fine - penalty - Held that: - The adjudicating authority has redetermined the value and importer appellant has discharged the customs duty accordingly - the imported consignment of marble is liable for confiscation under Section 111(d) of Customs Act, 1962 due to misdeclaration of the value. Redemption fine - redemption fine of ₹ 16 lakhs as against the value of ₹ 47,21,686/-, is excessive as normally when the redetermination of value is accepted and customs duty liability is discharged if there is no allegation that there was misdeclaration of quantity, tribunal has been taking a consistent view that the redemption fine should be 20% of the enhanced/combined CIF value - the redemption fine reduced to ₹ 10 lakhs. As regards penalty, we hold that penalty imposed by the adjudicating authority of ₹ 10 lakhs is excessive and accordingly, we reduce the same to ₹ 5,00,000/-. Appeal disposed off - decided partly in favor of appellant.
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