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TMI Blog2016 (2) TMI 647X X X X Extracts X X X X X X X X Extracts X X X X ..... The Tribunal in the Final Order No.1014/2009 dt. 19.8.2009 reduced the redemption fine from Rs. 11 lakhs to Rs. 6 lakhs and the penalty from Rs. 2,50,000/- to Rs. 1 lakh. Revenue preferred a C.M.A against the Tribunal's order dt. 19.8.2009 before the Hon'ble Madras High Court. The Hon'ble High Court vide order dt. 3.7.2015 in C.M.A.No.666 of 2010 and M.P. No.1/2010 set aside the Tribunal's order and remanded the matter to Tribunal to consider the issue afresh and give a reasoned order in so far in so far as the fine and penalty is concerned. Accordingly, the appeal is taken up for hearing and disposal. 2. Ld. Advocate submitted written synopsis today and also the history of date and events of proceedings from 2006 to 2008 a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to judicial custody. He was also prosecuted and there was no margin of profit in this case. Therefore the counsel pleaded for leniency. 3. On the other hand Ld. AR reiterated the findings of OIO and submits that original redemption fine imposed is fair and just and no reduction can be given on the RF and penalty. She submits that case law relied by advocate in the case of S.Pondithurai (supra) is not applicable to the facts of this case as held by the Hon'ble Madras High Court in their order dt. 3.7.2015. The Hon'ble Karnataka High Court in a reported judgement of CC Vs Syed Mehaboob Syed Kareem - 2014 (305) ELT 565 (Kar.) has also distinguished the Tribunal s order in the case of Halithu Ibrahim Vs Commissioner 2005 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s judgement in the case of CC Mumbai Vs Mansi Impex (supra) wherein the Hon'ble apex court has laid down the principle that quantum of redemption fine is always is dependent on the determination of the market price of the goods confiscated which is one of the prerequisites prescribed in the statute itself. Relevant paras of the above Hon'ble Supreme court judgement are reproduced as under :- "12. Section 125 of the Act being the provision for levying the redemption fine in lieu of confiscation, the said provision is to be strictly followed and, therefore, said redemption fine should be imposed by the competent authority which amount would not exceed the market price of the goods confiscated, less in the case of imported goods the duty ch ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hable in view of Hon'ble Supreme Court decision referred to supra. Accordingly, by taking into consideration of overall facts and circumstances of the case and also considering the fact that the appellant was already arrested and remanded to judicial custody for 15 days and he was also prosecuted in the criminal proceedings by the lower court and also considering that where the profit margin is determined based on market price and value of currency is purely based on fluctuation of foreign exchange rate, we find that RF and penalty is on higher side. 6. In view of the foregoing discussions, we modify the impugned order in so far as imposition of RF from Rs. 11,00,000/- to Rs. 7,00,000/- (Rupees Seven lakhs only) and personal penalty from R ..... X X X X Extracts X X X X X X X X Extracts X X X X
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