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2009 (12) TMI 429 - GUJARAT HIGH COURTRedemption fine and penalty- the adjudicating authority has passed an Order-in-Original communicating to the appellant on with regard to confiscation of 1,20,000 pieces of scarves and giving option to redeem the confiscated goods on payment of redemption fine of Rs.14 lacs in lieu of confiscation under provisions of Section-125 of the Act and also imposed penalty of Rs.5 lacs on the appellant under Section-114 of the Act and also imposed penalty of Rs.2 lacs on the partner of the appellant firm. The CESTAT vide its order reduced the redemption fine of Rs.14 lacs to Rs.5 lacs and penalty from Rs.5 lacs to Rs.4 lacs. The separate penalty levied on the partner of M/s.Cosmos was deleted. Being aggrieved by the said order of the Tribunal the present Tax Appeal is preferred. Held that- Tribunal noting that misdeclaration and inflation of value of scarves with intent to earn fraudulently NFE and confiscation sustainable. Penalty reduced from 5 lakh to 4 lakh by Tribunal. Evidence considered and finding of fact given by Tribunal. Substantial question of law not arise.
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