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2020 (6) TMI 126 - AT - CustomsRestriction on import of Palm oil through Kochi Port - Notification 39(RE-2007)/2004-09 dated 16th October 2007 - Confiscation - penalty - HELD THAT:- The importer has not made out any case to show the compelling circumstances under which they could not either cancel the Contract or alter the Port of discharge - the importer was required to comply with the Notification dated 16.10.2007, inasmuch as they could not produce an irrevocable commercial letter of credit as required by the Notification. Therefore, the impugned goods are liable for confiscation in terms of Section 111 (d) of Customs Act, 1962. The Learned Commissioner erred in holding that no redemption fine could be levied as the goods were not physically available. The goods were provisionally released in terms of a bond submitted by the importers - redemption fine upheld, but the quantum is reduced. The impugned order is modified to the extent of reducing penalty from ₹ 80,00,000/- to ₹ 38,00,000/- - Appeal allowed in part.
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