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2016 (9) TMI 471 - CESTAT NEW DELHI

2016 (9) TMI 471 - CESTAT NEW DELHI - TMI - Rejection of declared value by customs - import of high speed steel tape - Rule 8 of Customs Valuation (Determination of Value of Export Goods) Rules, 2007 opinion sought by chartered engineer Confiscation of consignments and levy of penalty - Held that: - though enhancement of value is found to be sustainable, it is clear that there is no malafide or mensrea on the part of the appellant, when it declared the value in the Customs documents and the .....

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for the Respondent : Mr. Vaibhav Bhatnagar, A.R. & Mr. Rajiv Gupta, Commr. (A.R.) ORDER Brief facts of the case are that the appellant had exported the consignment containing 21 Nos. of high speed steel tape vide ARE-I No.57 dated 19.01.2012 valued at ₹ 22,00,278/- on payment of duty of ₹ 2,24,952. For the said purpose the appellant filed the shipping bill No.7203770 dated 20.01.2012 at ICD, Patparganj, New Delhi. The Customs did not agree with the value and sought the opinion of .....

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) Rules, 2007; redetermined the value of consignment as ₹ 5,04,565/- under Rule 5 of the said Rules; goods were confiscated under Section 113 (d) of the Customs Act, 1962 and redemption fine of ₹ 1,00,000/- was imposed in terms of Section 125 (i) of the said Act. Besides penalties of ₹ 2,00,000/- and ₹ 1,00,000/- on the appellant Company and the Directors respectively were imposed under section 114 (iii) of the Act. Appeal against the adjudication order was disposed of by .....

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