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2016 (11) TMI 1138 - CESTAT CHENNAI

2016 (11) TMI 1138 - CESTAT CHENNAI - TMI - Mis-declaration/suppression of imported goods - Slack Wax and Residue Wax - High Sea Sales - whether the ground that declared value does not reflect the transaction value and the value was grossly undervalued to evade Customs duty justified? - Held that: - I find that learned Commissioner (Appeals) after taking into overall facts and circumstances of the case has reduced the penalties imposed on the appellants which is reasonable and needs no further i .....

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he imposition of penalty imposed by the lower authorities. The adjudicating authority vide OIO dt. 23.12.2014 imposed penalties of ₹ 2 lakhs and ₹ 25,000/- on appellants Shri Ramdev Purba and Shri Rakesh Kumar Agarwal respectively for the alleged mis-declaration/suppression of imported goods in the Bill of Entry under Section 112/114AA of the Customs Act, 1962. On appeal, the learned Commissioner (Appeals) reduced the penalties from ₹ 2 lakhs to ₹ 10,000/- and from ₹ .....

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urnished in the respective invoices. There were 27 Bills of Entry filed from the year 2008 to November 2011. The said B.Es were assessed provisionally in terms of Section 18 of the Customs Act 1962 on the basis of Test Bond and test report. However, three Bills of Entry filed by M/s.BMW and one Bill of Entry filed by M/s.AMI were assessed finally. The investigation revealed that these four consignments were sold to the importers i.e. M/s.BMW and M/s.AMI on HSS basis by M/s.Abhisek India (3 consi .....

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