TMI Blog2008 (9) TMI 790X X X X Extracts X X X X X X X X Extracts X X X X ..... er : Chittaranjan Satapathy, Member (T)]. Heard both sides. 2. Shri R.S. Bajaj, learned C.A. appearing on behalf of the Appellants states that the Appellants imported 638.05 MTs of Melting Scrap from South Africa and as required under the EXIM Policy amended with effect from 1-10-2004, the imported consignment was also subjected to pre-shipment inspection by one of the authorised PSI agent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s for a lenient view to be taken, since the Appellants have already suffered heavy loss on account of demurrage. 3. Heard the learned D.R., Shri Manish Kumar who supports the impugned Order and states that as required under the law, a valid PSI certificate was necessary, in the absence of which the impugned goods were liable for confiscation for violation of the EXIM Policy in force and the Appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as found in the consignment of the Appellants and that they have suffered huge loss on account of demurrage. Hence, taking these mitigating factors into consideration, while upholding the confiscation ordered by the Adjudicating Commissioner, we reduce the Redemption Fine to Rs. 25,000.00/- (Rupees twenty-five thousand) and in the circumstances of the case, waive the penalty imposed on the Appella ..... X X X X Extracts X X X X X X X X Extracts X X X X
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