TMI Blog2010 (2) TMI 821X X X X Extracts X X X X X X X X Extracts X X X X ..... ction value of nickel alloy steel scrap, Supreme Court in the case Sanjay Chandiram (1995 - TMI - 43997 - SUPREME COURT OF INDIA) held that when the declaration is found to be false, the declared value is not acceptable, penalty reduced, partly allowed by reduction in the penalty imposed. - C/347/2003-MAS - 229/2010 - Dated:- 23-2-2010 - Ms. Jyoti Balasundaram, Dr. Chittaranjan Satapathy, JJ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for stainless steel metal scrap cannot be accepted for nickel alloy steel scrap. Hence, in the absence of any import of similar items, he proceeded to value the consignment on the basis of calculation provided by the importer himself based on LME report dated 24-6-98 and the Hindu Business Line dated 30-6-98. The value US $ 445.15 per M.T. was worked out on the basis of LME price for 95% pure allo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the testing of the sample drawn in the presence of the respondents. The value accepted by the original authority is also in accordance with the calculation submitted by the respondents themselves. She states that the declared value cannot be accepted when the impugned goods have been misdeclared in the invoice as well as in the Bill of Entry. She places reliance on the decision of the Hon ble Supr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n sold for export to India. In the present case the value indicated on the invoice is for stainless steel melting scrap whereas the goods which have been exported to India are actually nickel alloy steel scrap. As such, the value of stainless steel melting scrap cannot be the transaction value of nickel alloy steel scrap. Further, Hon ble Supreme Court in the case of CC, Calcutta v. Sanjay Chandir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y misdirected himself in reversing the order of the original authority. We set aside the impugned order-in-appeal and restore the order-in-original. However, considering all aspects of the case, we are of the view that a penalty of Rs. 50,000/- (Rupees fifty thousand ) will meet the ends of justice and hence we reduce the penalty of Rs. 1,00,000/- imposed by the original authority to Rs. 50,000/- ..... X X X X Extracts X X X X X X X X Extracts X X X X
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