2010 (4) TMI 1015 - SCH - Customs

Confiscation - redemption fine - import of rough diamonds - overvaluation - relationship between appellant and foreign supplier of goods - Held that - C.B.E. & C. had prescribed re-export of goods in absence of any Kimberley Process Certificate and hence absolute confiscation of rough diamonds was not warranted in light of fact that K.P. certificate produced by appellant was valid - goods allowed to be re-exported without any redemption fine.

Summary

The Supreme Court of India in 2010 (4) TMI 1015 - SC Order, overturned the Appellate Tribunal's decision to set aside confiscation of rough diamonds and penalty due to lack of proof of overvaluation. The Tribunal noted discrepancies in expert panel reports and found no evidence of relationship between the appellant and foreign supplier casting doubt on the declared value. It ruled that re-export of goods without Kimberley Process Certificate did not warrant absolute confiscation, allowing re-export without redemption fine.