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2015 (4) TMI 953 - MADRAS HIGH COURT

2015 (4) TMI 953 - MADRAS HIGH COURT - TMI - Imposition of redemption fine - short-payment of customs duty on the imported goods on a value lesser than the actual one - whether redemption fine can be imposed without making a proper market survey to find out the market price, as prescribed under the provisions of Section 125 of the Act - Held that:- It is the requirement of law that the amount of redemption fine should not exceed the market price of the goods confiscated and the same can be obtai .....

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of India] in accordance with Section 125 of the Act. - Decided partly in favour of assessee. - W.A. No.333 of 2015 and M.P. No.1 of 2015 - Dated:- 15-4-2015 - Satish K. Agnihotri And M. Venugopal JJ For the Appellant : Mr. Hari Radhakrishnan For the Respondent : Mr. P. Mahadevan Judgment (Judgment of the Court was made by SATISH K. AGNIHOTRI, J.) Questioning the legality, validity and propriety of the order dated 25.11.2014 passed in W.P. No.3056 of 2013, the writ petitioner has come up with the .....

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ld not exceed the market price of the goods confiscated. Thus, confirming the final order dated 06.11.2012 passed by the first respondent, being the subject matter in the writ petition, by the learned Single Judge, was not just and proper and contrary to the well settled ratio laid down by the Supreme Court in Commissioner of Customs, Mumbai vs. Mansi Impex 2011 (270) ELT 631 (SC). 3 Per contra, Mr. P. Mahadevan, learned counsel appearing for the first respondent-Settlement Commission submits th .....

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nt of ₹ 35,48,881/- with interest and (iv) why the amount of ₹ 7,36,100/- which has been unaccounted in their office, be seized. The appellant has admittedly the full duty liability to the tune of ₹ 35,48,881/-, along with applicable interest, as demanded under the show cause notice. Thus, the order impugned before the learned Single Judge was rightly passed imposing redemption fine. 4 The learned Single Judge, considering the submissions advanced by both the parties, held as u .....

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nalty in Paragraph 15.1 (d),(e) and (f) are set aside and the matter is remanded to the Settlement Commission for fresh consideration, to consider as to whether there is need for imposition of penalty on the company as well as the Directors of the company." 5 The question before us is as to whether redemption fine can be imposed without making a proper market survey to find out the market price, as prescribed under the provisions of Section 125 of the Act. 6 Section 125 of the Act came into .....

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