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2017 (6) TMI 615 - AT - CustomsConfiscation - redemption fine - penalty - valuation - enhancement of value of the imported goods in terms of local Chartered Engineer opinion - Held that: - customs authorities have rejected the opinion of one expert simply on the basis of opinion by another expert. We note that there is no other sufficient independent reason for such rejection. Such rejection has been held as not a valid basis for rejection of Chartered Engineer certificate in the case of Anish Kumar Spinning Mills [2004 (5) TMI 172 - CESTAT, CHENNAI] - Admittedly, the imported goods are more than 10 years old in terms of Import Trade Control Regulations in EXIM 2002-07 read with para 3.3 of the Handbook of Procedures of Vol-I. The importers have violated the provisions of Foreign Trade (Development and Regulation) Act, 1992. The goods are therefore liable for confiscation under Section 111 (d) of the CA 1962 - penalty upheld - the quantum of redemption fine and penalty reduced - appeal allowed - decided partly in favor of appellant.
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