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2018 (2) TMI 1136 - AT - CustomsMisclassification and misdeclaration of value of imported goods - Concentrated mineral drops (CMD), Elete Electrolyte and NanoSiI etc. - penalties u/s 112 (a) and 114 AA of the CA 1962 - Held that: - the penalties imposed u/s 112 (a) requires interference as the issue with regard to the classification has now been decided in favour of the appellants - However, since there is finding by the Tribunal that the valuation of the goods is not proper and requires redetermination, for which reason the matter has been remanded, the penalties imposed under Section 112 (a) cannot be wholly set aside - the quantum of penalty is reduced. Penalties under Section 114 AA - Held that: - There is no allegation in the SCN that the appellants had used any false documents in the transaction. The ingredients stated in the said Section is not established by the department and therefore the imposition of penalties u/s 114 AA, is unwarranted - penalty set aside. Appeal allowed in part.
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