TMI Blog2006 (1) TMI 499X X X X Extracts X X X X X X X X Extracts X X X X ..... Member (J)]. The appellant imported 2,450 pieces of VCD players from Hong Kong and filed a Bill of Entry for clearance of the goods. They were asked to produce the supplier s invoice in support of the declared value of HKD 47, but they failed to do so. In the circumstances, on the basis of Customs records, which indicated USD 18 per set of VCD players as the contemporaneous price of the goo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... position of redemption fine or penalty. Alternatively, it is submitted that the quanta of fine and penalty imposed by the Commissioner are unconscionably high. Ld. SDR makes submissions in defence of the Commissioner s order. 3. After giving careful consideration to the submissions, we note that, in the case of BNK Intrade (supra), redemption fine and penalty were vacated in the facts and circum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ich was never retracted, virtually changed the complexion of the case and the importer stood at a point of no return. In such circumstances, we are unable to apply the cited decision, in the same rigour, to the facts of this case. 4. However, the challenge against the quanta of fine and penalty seems to be well-founded. A fine of Rs. 5 lakhs in lieu of confiscation of goods valued at Rs. 11 lakh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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