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1991 (2) TMI 140 - SC - CustomsWhether before obtaining clearance of the machinery imported under import licence dated February 14, 1979, the appellant had informed the customs authorities that the said machinery had been transferred to the Company under agreement dated July 31, 1979? Held that:- The appellant, after getting goods cleared from the customs transferred the same to the Company and thereby the appellant failed to observe the condition on the basis of which the benefit of concessional rate of duty under Heading 84.66 of the Customs Tariff was obtained. The goods were, therefore, liable to confiscation under Clause (o) of Section 111 of the Act and penalty could be imposed under Section 112 of the Act. As mentioned earlier the difference between the duty payable and the duty actually paid by the appellant was ₹ 1,26,163.45 and the maximum amount of penalty that could be imposed was five times of that amount. Keeping in view the facts and circumstances of the case the Collector has imposed a penalty of ₹ 50,000/- which imposition has been upheld by the Appellate Tribunal. We find no ground for interfering with the said direction about imposition of penalty. Appeal dismissed.
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