TaxTMI 
TaxTMI 
2008 (3) TMI 549
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.... lakhs was claimed. 2. On examination of the goods, the consignment was found to contain 12,120 pieces of round neck T-Shirts (banians), 20,197 pieces of sleeveless vests, 5,844 pieces of men's briefs (white) and 984 pieces of men's briefs (coloured), totalling to 39,145 pieces. From the examination, it also appeared to the Customs Authorities that the goods were of inferior quality and of lower value than declared. It appeared to the authorities that the goods were misdeclared and grossly overvalued with intent to obtain undue drawback benefit from the Government. On this basis, the goods were seized under a mahazar and further investigations were launched. Statements of the proprietor of the exporting concern as well as their CHA we....
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....Shankar to redeem the said goods on payment of a fine of Rs. 9,93,000/- (Rupees Nine lakhs ninety three thousand only) in lieu of confiscation under Section 125 of the Customs Act, 1962. The option to redeem the confiscated goods shall be excepted within 30 days from the date of receipt of this order. I impose a penalty of Rs. 4,00,000/- (Rupees Four lakhs only) on the exporter Shri K. Shankar under Section 114 (i) & (iii) of the Customs Act, 1962 for the contravention of provisions of Section 50 of the Customs Act, 1962." 3 After considering the grounds of this appeal and hearing both sides, we have found no case against the valuation of the goods and its confiscation. It is obvious from the facts of the case that the description, q....
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....ding three times the value of the goods as declared by the exporter or the value as determined under this Act, whichever is the greater; (ii) In the case of dutiable goods, other than prohibited goods, to a penalty not exceeding the duty sought to be evaded or five thousand nipees, whichever is the greater; (iii) in the case of any other goods, to a penalty not exceeding the value of the goods, as declared by the exporter or the value as determined under this Act, whichever is the greater." Clauses (i), (ii) and (iii) of Section 114 lay down the parameters for the penalty to be imposed on an exporter in three different factual situations. Clause (i) is applicable to a case in which the person who....