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2018 (3) TMI 874 - AT - CustomsQuantum of redemption fine and penalty - Valuation - Held that: - the declared CIF value was ₹ 1,01,35,168/-.The CIF value was however revised to approximately ₹ 1.1 Crore.The redemption fine imposed works out to approximately 35% of the revised CIF value - .In the instant case, the appellant have not mentioned about any demurrage etc. paid in their appeal memorandum.Moreover, this is not the first time the appellant have been booked for this offence - he redemption fine is reduced from ₹ 38 lakhs to ₹ 30 lakhs - The penalty however is sustained on ₹ 4 lakhs - appeal allowed in part.
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