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2016 (11) TMI 32 - CESTAT NEW DELHIConfiscation of consignment u/s 111 (m) of CA, 1962 - option to redeem on payment of redemption fine u/s 125 - imposition of penalties u/s 112 (a) - import of 60 pieces of heater - Held that: - The courier bill of entry filed by the importer was accompanied with an invoice for U.S. $ 105 FOB. The revised invoice indicating the correct value of the import goods as U.S. $ 3,000 was submitted by the importer only after it was noticed by the Customs that the goods imported were under valued. Hence, it stands established that the goods have been mis-declared and, hence, is liable for confiscation under Section 111 (m) of the Customs Act, 1962. Once the goods are found to be mis-declared the same will be liable for confiscation in Section 111 (m). Accordingly redemption fine will be imposable for clearance of such goods. However, keeping in view the facts and circumstances of the case, I reduce the redemption fine to ₹ 50,000/- (Rupees Fifty Thousand) under Section 125 of the Customs Act. I also reduce the penalty imposed under Section 112 (a) to ₹ 20,000/- (Rupees Twenty Thousand). Imposition of penalties u/s 114 (AA) - Held that: - false and incorrect material not found - penalty set aside. Appeal disposed off - decided partly in favor of appellant.
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