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2018 (5) TMI 1680 - AT - CustomsPenalty u/s 114A - undervaluation of imported goods - used printing, cutting machines - submission of undervalued invoice to Customs for payment of duty - Held that:- Original authority has considered all the documents as well as the statements of the Proprietor and thereafter, re-determined the value of imported goods which has been accepted by the Proprietor and has paid the duty. As per the proviso to Section 114A of the Act, the lower appellate authority ought to have set aside the imposition of penalty under Section 112(a) of the Customs Act but instead of doing that the appellate authority has set aside the penalty under Section 114A of the Customs Act and has wrongly sustained the penalty imposed under Section 112(a) of the Customs Act - penalty on the appellant under Section 112(a) is set aside and penalty under Section 114A is sustained and upheld. Quantum of Redemption fine - Held that:- Keeping in view the valuation done by original authority on the basis of the documents and the basis of admission of the proprietor, the authorities have found that the goods are valued at ₹ 91,82,096/- being the transaction value for the purpose of assessment under Rule 3 of the Customs Valuation Rules, 2007 read with Section 14 of the Customs Act, 1962 - redemption fine upheld. Appeal allowed in part.
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