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2014 (10) TMI 843 - AT - CustomsMis-declaration of value of diamond Vide impugned order consignment of 299.33 carats of cut and polished diamonds imported by appellant was confiscated and allowed to be re-exported on payment of redemption fine under Section 125 of Customs Act 1962 Appellants have appealed against confiscation and consequent redemption fine on other hand Revenue appealed for imposition of penalty which was not imposed by adjudicating authority Held that - packets containing 299.33 carats were stated to have been exported consignment but actually consignment of 1098.80 carats was exported Therefore claim of appellant that this consignment was re-imported without accompanying documents due to oversight is not plausible claim because only part of exported goods were brought back In view of these facts there is no doubt that there has been mis-declaration Diamonds being very sensitive commodity its trading of may not have duty implication but can have other implications of money transactions No reason to disagree with findings of Commissioner confiscating goods and imposition of redemption fine Decided against Assesse.
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