TMI Blog2011 (10) TMI 312X X X X Extracts X X X X X X X X Extracts X X X X ..... by the manufacturer, department relied upon details available in a website. Assessee not able to substantiate that the list price of 2780 model, at which he relied. Department has adopted reasonable means for arriving at the list price of 2004 model and given trade discounts and depreciation. Since the vehicle imported in 2007 is lying idle in department's custody, we feel that there is scope for some leniency. Redemption fine reduced from 2,00,000 to 1,00,000. - C/1340 & 1274/2010 - - - Dated:- 18-10-2011 - SHRI P. G. CHACKO, SHRI M. VEERAIYAN, JJ. Appearance Shri P. A. Augustain, Advocate for the appellant-assessee. Shri Ganesh Havannur, SDR for the Revenue. Per M. Veeraiyan (Oral) Appeal No. C/1340/2010 is by Shri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ely confiscated the car in terms of Section 111(d) and (m) of the Customs Act read with Section 3(3) of the Foreign Trade (Development Regulation) Act, 1962. He also imposed penalty of Rs.1,50,000/- on Shri Abdul Kareem Poku under Section 112(a) of the Customs Act, 1962. On appeal by the party, Commissioner (Appeals) upheld the value of the car which was arrived at as Rs.10,19,174/-. However, he allowed option to redeem the vehicle on payment of fine of Rs.2 lakh and reduced the penalty from Rs.1,50,000/- to Rs.75,000/-. 3.2 The assessee is challenging the valuation of the vehicle at Rs.10,19,174/- and also seeks leniency in redemption fine and penalty. Department has come on appeal challenging the order of the Commissioner (Appeals) in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g the redemption fine. 5. Learned SDR submits that the valuation has been adopted by a fair means. As the assessee has mis-declared the relevant details, the department took the comparable 2002 model and arrived at 2004 price by adding 5% per year and, thereafter, allowed 15% trade discount, 42% depreciation and arrived at the assessable value of Rs.10,19,174/-. He further submits that the vehicle with the manipulated chassis number and engine number cannot be permitted to be allowed to be redeemed on payment of redemption fine and therefore, the order of the Commissioner (Appeals) in so far as allowing redemption should be set aside and the order of the original authority should be restored. 6.1 We have carefully considered the submiss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Refurbishment Assessable value 211181 dated 6.11.07 Abdul Kareem Poku Toyota Landcruiser 1st Regn. 15.03.2004 HDJ100R-GNPEZW JPY 4670000 JPY 5148675 JPY 4376374 JPY 2538297 871905 Rs.9809 Rs. 920964 Rs. 9210 Rs. 19000 Rs. 70000 Rs. 1019174 Extra fittings GPS Rs. 15000 CD Changer Rs. 2000 Cool box Rs. 500 Visor Rs. 1500 Total Rs. 19000 Refurbished items Tyres Rs. 20000 Upholstery Rs. 20000 Metallic paint Rs. 30000 Total Rs. 70000 Ex. Rate US D 1 = 39.25 JPY 100 = 34.35 Depreciation April - 04 Mar - 05 16% April - 05 Mar - 06 12% April - 06 Mar - 07 10% April - 07 Aug - 07 4% Total 42% 6.2 The appellant except stating that the website relied ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lute confiscation is not warranted. Therefore, the prayer of the department is liable for rejection. 6.4 Having upheld the confiscation and having rejected the prayer of the department for absolute confiscation, we come to the prayer of the assessee for leniency in the quantum of redemption fine and penalty. Though, we have not accepted the plea for reduction in the assessable value, we find that since the vehicle imported in 2007 is lying idle in department's custody, we feel that there is scope for some leniency. Accordingly, we reduce the redemption fine imposed from Rs.2,00,000/- to Rs.1,00,000/- and the penalty imposed from Rs.75,000 to Rs.50,000/-. 7. Appeal of the department is rejected. Appeal of the assessee is partly allowed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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