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2016 (12) TMI 638 - CESTAT CHENNAIConfiscation of goods - imposition of redemption fine and penalty - Held that: - When appellants failed even today to repel the argument of Revenue on merit, there is no doubt that certain contributor factors to determine redemption fine and penalty are considerable looking to the spirit of the proviso under section 125(1) of the Customs Act, 1962 and section 112 of the Customs Act, 1962. A higher limit not exceeding the market value of goods less than the duty payable is prescribed as redemption fine in law. Learned Commissioner (Appeals) has not gone to extreme limit. But he has proceeded upto 25% of the assessed value to impose redemption fine. He also found that penalty was rightly imposed - In all cases, import being of restricted goods, levy of penalties is confirmed finding nothing unreasonable looking to the nature of goods, life thereof as well as deliberate import of old and used machines in violation of law. Appeal disposed off - redemption fine reduced - decided partly in favor of appellant-assessee.
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