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2023 (5) TMI 674 - HC - CustomsSmuggling - gold biscuits with foreign markings - relevant date for valuation of goods - absolute confiscation - Personal penalty imposed on the petitioner as well as two others under Section 112 of Customs Act - HELD THAT:- The narration relating to the litigation is really of no consequence in the matter as the valuation of the asset in question for determination of duty, emanates from order dated 24/31.07.2015 which has attained finality as on date. The narration in regard to the litigation is for purposes of completion and seeing as the petitioner has emphasised only upon those orders that are of no consequence really, in deciding the issue relating to valuation of the goods for determination of customs duty. The enactment contemplates two separate and distinct schemes for valuation in the context of imposition of duty on the one hand, and fixing redemption fine, on the other. As far as duty is concerned, the applicable provisions are Sections 14 and 15. Section 14 talks of valuation of the goods which is the manner by which such valuation should be effected and Section 15 crystallizes the date as on which such valuation must take place. Coming to redemption fine, Section 25 is a code by itself and states that the valuation for purposes of fixing redemption fine, shall not exceed the market price as on the date of confiscation of the goods. Thus, the Act contemplates two separate and different scenarios, one while imposing customs duty and the other, in the levy of redemption fine. The argument of the petitioner to the effect that the date of valuation must be taken to be the date of confiscation of the goods for the purposes of levy of customs duty thus has no merit. Impugned order dated 09.11.2020 calls upon the petitioner to pay duty as per Section 15(1)(c) of the Customs Act, 1962 and there is no legal infirmity made out in this regard - Petition dismissed.
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