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2021 (10) TMI 129 - HC - CustomsQuantum of redemption fine - unauthorised import of restricted item - rough marble blocks imported without an import licence - HELD THAT:- COC (I) has not given any basis as to how he decided a redemption fine of ₹ 37 lakhs. It is settled law that the quantum of redemption of fine which could be imposed is always dependent on the determination of the market price of the goods confiscated. The Apex Court in the case of CC VERSUS MANSI IMPEX [2011 (8) TMI 470 - SUPREME COURT] says “this is one of the pre-requisites prescribed in the statute itself”. In the case at hand, the COC (I) has not even conducted a sample market survey for determining the market price of the goods, without doing that, it could not have been possible for the COC (I) to arrive at a legally justified and correct quantum of redemption fine to be imposed - Also, COC (I) has not even observed in his order that respondent was a repeat offender or that was the reason why he imposed the penalty of almost 80% on respondent. The Tribunal has correctly observed that there was no discussion in the order of the COC (I) as to how the quantum of fine has been arrived at and what would be the margin of profit in order to arrive at the quantum of fine. The Tribunal has at least given the basis as to why they have reduced redemption fine to 35% - Appeal is dismissed.
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