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2023 (5) TMI 1134 - CESTAT MUMBAIImposition of Redemption Fine and Penalty disproportionately - Valuation of imported goods - gold dore bars - rejection of transaction value - re-determination of value - benefit of concessional rate of CVD @ 8% ad-valorem claimed under Sr. No. 318 of Notification 12/2012-Cus dated 17.03.2012 against DGFT License - whether in the facts of the commissioner the case there is a contentious conduct of the appellant on imposing fines and penalties as per the impugned order? HELD THAT:- The Bar no. 1 has been permitted for re-export even the value that has been determined is less than 1 Lakh above the value declared. The redemption filed imposed of Rs. 20 Lakhs on such differential value cannot be justified and needs to be commensurate with the differential value which is only Rs. 86,541/- in case of bar 1. Taking note of the fact that as per the impugned order itself if it is a case of undervaluation, undervaluation is only of Rs. 86,541/-. Redemption filed of Rs. 20 Lakhs needs to be reduced consequently - the same is reduced to Rs. 50,000/-. In respect of bar 2, there is no contravention vis-a-vis claiming the benefit of exemption notification. None of the test reports have shown a purity level of more than 95% there can be a case for undervaluation on which total undervaluation can be Rs. 3,12,735/- by the adjudicating authority involving total duty of Rs. 25000/-. Redemption filed imposed in terms of Section 118 cannot be justified in the present case. In case of bar 2 the same is set aside. For undervaluation of the Gold Bar 2, a penalty of Rs.10 Lakh cannot be justified and is reduced to 10,000/- under Section 112 A of the Customs act. Appeal allowed in part.
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