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2016 (5) TMI 915

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..... s were in violation of Exim Policy only marginally as the CIF value worked out to be only marginally less than US $ 60 per SQM and that too due to monthly exchange rate changes notified vide Customs Notification after the appellant obtained quotation for the goods on 10.09.2011. Therefore, in all fairness and in the interest of justice, considerable leniency is called for in adjudging the redemption fine and penalty. Impugned order is upheld except that the redemption fine and penalty are reduced to ₹ 1,50,000/- and ₹ 50,000/- respectively - Decided partly in favour of appellant - Customs Appeal No. C/3414/2012-Cu[DB] - Final Order No. 51763 /2016 - Dated:- 4-5-2016 - MR. S.K. MOHANTY, MEMBER (JUDICIAL) AND MR. R. K. SINGH, .....

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..... llars per SQM as per the notified exchange rate vide Customs Notification No. 62/2011-Cus (N.T.) dated 26.08.2011. It is only at the time of actual arrival of goods that as per the exchange rate applicable on the date of arrival as notified vide Notification No. 82/2011-Cu(N.T.) dated 28.11.2011 that the value of the goods became the little less than US Dollar 60 per SQM and worked out to about US $58 per SQM and in these circumstances, the confiscation should not have been ordered and penalty also should not have been imposed. 3. Ld. DR, on the other hand, stated that the exchange rate which the appellant referred to as per the Customs Notification No. 62/2011 (NT) did not prevail on 11.10.2011 on which date the exchange rate was as per .....

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..... olicy only marginally as the CIF value worked out to be only marginally less than US $ 60 per SQM and that too due to monthly exchange rate changes notified vide Customs Notification after the appellant obtained quotation for the goods on 10.09.2011. Therefore, in all fairness and in the interest of justice, considerable leniency is called for in adjudging the redemption fine and penalty. 6. In the light of the foregoing analysis, we uphold the impugned order except that the redemption fine and penalty are reduced to ₹ 1,50,000/- and ₹ 50,000/- respectively. Thus, the appeal is partly allowed only to the extent of reduction of fine and penalty to ₹ 1,50,000/- and ₹ 50,000/- repectively. (Dictated and pronounced .....

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