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2022 (11) TMI 1194 - CESTAT NEW DELHIValuation of imported goods - rejection of declared value - restricted goods/prohibited goods - It appeared to Revenue that the goods involved is old hospital accessories are restricted in nature in terms of Sl. No. II (2.1) FTP 2015-20, which stipulates that import of Second Hand Goods other than capital goods are restricted in nature and can only be allowed subject to production of valid authorisation certificate issued by DGFT - appeal dismissed on the ground that the appeal has been filed on the 91st day, counted from 16.02.2018 being the service of the impugned order - Confiscation - redemption fine - penalty - HELD THAT:- The appellant has definitely imported the restricted goods for use as capital goods to be installed in their Hospital/ Nursing Home. Further, it is found that the goods are not prohibited goods and as the goods are admittedly second hand goods, this falls under restricted goods under the FTP. It is further found that as the goods are admittedly more than ten years old, and under Rule 3(5) of the Cenvat Credit Rules, depreciation of 2.5% is available for each quarter on straight line basis on the capital goods. Thus, the value becomes NIL after ten years of user of capital goods. The rejection of transaction value is bad. Thus, the declared value is accepted. Thus, no differential duty is payable. However, the goods have been rightly held confiscable as the appellant did not have license to import. The order of confiscation under Section 111(d) is upheld. However, redemption fine is reduced to Rs. 50,000/-. Further, penalty under Section 112(a)(i) is reduced to Rs. 10,000/-. Appeal allowed.
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