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2018 (2) TMI 28 - AT - CustomsValuation - freight - includibility - Held that: - There is broad agreement on the aspect of quantum of freight cost that will require to be added. It is a fact that as per the Customs Valuation Rules as in force during the material period, even when the cost of transportation of imported goods was ascertainable, for the purpose of adding freight element to form part of the assessable value only 20% of the FOB value would be adopted in respect of goods imported by air - for the limited purpose of re-determining the revised differential duty liability after limiting the freight cost to 20% of the FOB value, the matter is being remanded to the original authority. Redemption fine - Held that: - there has been misdeclaration on the part of the importer. It is also noted that in the very same month for similar items, the same omission had occurred. Viewed in this light, we cannot but take the protestations of the appellant into a pinch of salt - taking into account that differential duty liability would be calculated only on 20% of the FOB value, and also taking note of the fact that no research was done on the market value of the goods is evident from the record, it is held that a lower redemption fine of ₹ 1,00,000/- would serve the ends of justice in this case - So also reduction of penalty to ₹ 50,000/- ordered. Appeal allowed in part.
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