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2018 (7) TMI 1296 - AT - CustomsMisdeclaration of value of imported goods - Flash Butt Welding Machine - benefit of N/N. 84/97-CUS dated 11.11.1997 denied - redemption fine - penalty - Held that:- The Adjudicating authority observed that it is not a bonafide mistake since it took five months to issue a revised invoice and therefore penalty would be imposed under Section 112(a) of the Customs Act, 1962. However, the Adjudicating authority allowed the amendment of the Bill of Entry dated 14.08.2007. He has also dropped the demand of duty. The Adjudicating authority allowed the amendment of the Bill of Entry under Section 149 of the Act, 1962 and therefore the confiscation of the goods and imposition of redemption fine is not justified - However, there is a mis-declaration in the Bills of Entry and the imposition of penalty is warranted. However, the quantum of penalty is excessive and the same is required to be reduced. Redemption fine set aside - penalty reduced - appeal allowed in part.
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