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2016 (12) TMI 965 - CESTAT KOLKATAConfiscation - import of goods for reexport after necessary rectification - failure to reexport - Claim of exemption Notification No. 158/95-Cus dt 14/11/1995 - Penalty - Time limitation - It was claimed that appellant is also eligible to drawback as under Sec 74 of the Customs Act 1962 if appellant is made to pay import duty. That the entire exercise is revenue neutral - Held that: - By issuing show cause notice dt 29/9/2010 Revenue has taken steps to finalize the provisional assessment by demanding duty. As such demand is not time barred & has been correctly confirmed along with interest. On the issue of confiscation and imposition of penalty it is observed that all the relevant details were declared by the appellant at the time of clearance of goods. A delay in exporting the goods will make a case of demand of duty & interest and will not attract confiscation or imposition of penalty upon the appellant. According. Redemption fine imposed & penalty imposed upon the appellant is set aside. Appeal partly allowed - decided partly in favor of appellant.
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