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2017 (4) TMI 1118 - AT - CustomsValuation - rejection of transaction value - adoption of market value - confiscation - redemption fine - penalty - Held that: - In the matter of penalty, there is already considerable reduction from ₹ 4 lakhs to ₹ 50,000/-. Taking into account the various acts and omissions on the part of the exporter, penalty under section 114 ibid is definitely imposable on him and in any case, the quantum has been very generously reduced by the Commissioner (Appeals) - penalty of ₹ 50,000/- imposable. As regards redemption fine, we find that the same has also been reduced from ₹ 9,93,000/- to ₹ 1,50,000/- - Section 125 ibid in any case covers infractions not only in the case of importation but also exportation. As is evident from section 125(1) of the Act, the only conditionality given in the proviso to sub-section (1) is that such fine shall not exceed the market price of the goods confiscated. Discernibly, no divergence from these conditionalities is seen from the impugned order. The redemption fine of ₹ 1,50,000/-, in our view, would therefore meet the ends of justice in the matter and is upheld. Appeal dismissed - decided against appellant.
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