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2018 (3) TMI 278 - AT - CustomsValuation of export goods - validity of advance licence - whether the appellant had overvalued the export goods and consequently obtained the advance license and whether the appellant is liable to pay redemption fine on import made by M/s Mdhu Overseas and consequent penalty, whether the appellant is liable for penalty under section 114(i) of Customs Act, 1962 for charge of over valuation of the export goods? Held that: - it was admitted by the Learned Commissioner that the goods are not available . In such a situation he should not have imposed the redemption fine as held by the Larger Bench in the case of Shiv Kripa Ispat Pvt Ltd v. Commissioner of Central Excise & Customs, Nasik (supra). Accordingly, we set aside the redemption fine of ₹ 55 lakhs. Similarly, a redemption fine of ₹ 2.5 lakhs will also not sustain since the goods were not available for confiscation and the said redemption fine is also set aside. As regards the demand of duty of ₹ 9,83,400/- from the appellant under section 28(1) of the Customs Act, 1962 and interest @ 20% under section 28AB of the Customs Act, 1962 and imposition of penalty of ₹ 9,83,400/- under section 114A upon the appellant, we find that the appellant is not importer of the goods. Penalty u/s 114(i) of the CA 1962 - Held that: - the appellant have transferred only two licences wherein the duty involvement is ₹ 2,83,400/-. As regards the 15 licences, the appellant have surrendered those licences without use thereof. Taking into consideration over all facts and circumstances of the case and the duty involved in the two license, the penalty of ₹ 25 lakhs is very harsh which needs to be reduced - quantum of penalty reduced. Appeal allowed in part.
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