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2009 (10) TMI 445 - CESTAT, NEW DELHIValuation- The Respondent imported two consignments and filed Bills of Entry declaring the goods as acrylic strips. They also sought for examination of the consignment on first check basis “to avoid any discrepancies in values/weight/description of goods”. The Original Authority held that there was mis-declaration and finalised the value of $140/PMT for acrylic strips; further enhanced the value to US$ 450 from US$ 400 in respect of offcuts and further enhanced the value from US$ 780 to 930 in respect of sheets. He also ordered confiscation of the goods and allowed redemption on payment of fine of Rs. 2.00 lakhs. He also imposed penalty of Rs. 1.00 lakh on the importer. Held that- order of original authority restored with modification. Value of sheets should be adopted as $ 780 MT and demand re-worked. Duty demand in respect of off cuts @ $ 450 restored. Redemption fine fixed at Rs. 1 lakh and penalty at Rs. 5000.
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