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2019 (12) TMI 71 - AT - CustomsQuantum of redemption fine and penalty - Smuggling of contraband item - Gold Biscuits - HELD THAT:- The value of the seized gold is to be seen at the time of seizure which was valued at ₹ 30,20,000/-. Further, if the market value of the impugned goods is ₹ 30,20,000/- then the imposition of fine of ₹ 21,00,000/- is on a higher side - thus, the imposition of fine of ₹ 21,00,000/- is on the higher side which is reduced to ₹ 7,50,000/- (approximately 25% of the market value of the gold). Quantum of penalty u/s 112(a) of the Customs Act, 1962 - HELD THAT:- In the first round of litigation, the Commissioner has imposed penalty of ₹ 1,00,000/- which was not challenged by the appellant and the same has become final and therefore in the De novo proceedings, imposition of penalty of ₹ 2,10,000/- is not sustainable in law. Appeal allowed in part.
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