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TMI Blog2016 (12) TMI 1025X X X X Extracts X X X X X X X X Extracts X X X X ..... AKUR, MEMBER (TECHNICAL) Shri K.C. Jena, ADC(AR) for the Revenue NONE for the Respondent (s) Per Shri H.K. Thakur. These Appeals have been filed by the Revenue against Order-in-Original No.KOL/CUS/PORT/25/2008 dated 30.05.2008 passed by the Commissioner of Customs(Port), Strand Road, Customs House, Kolkata as Adjudicating authority. Under this Order-in-Original dated 30.05.2008, inter alia, Ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Russian/Japanese/Police/Romanian origin and were seized by the department. That before issue of show cause notice M/s.Kumar Trading Co.Ltd. (supplier) filed a Writ Petition No.1650 of 1998 in Calcutta High Court seeking permission for re-export of the seized goods. That Hon'ble Calcutta High Court (Single Bench) vide Order dated 01.02.1999, inter alia, permitted the petitioner to re-export the g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... akh redemption fine was imposed in lieu of the confiscation. Learned AR argued that redemption fine imposed is very less. It is the case of the Revenue that the declared value of the imported consignments was Rs. 24,13,642/- whereas an amount of Rs. 1,01,05,990/- has been realized by the sale of the seized goods. That even if the sale proceeds of the seized goods are taken to be the market value t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 1,93,09,139/-. At the time of disposal of the said goods as per the direction of Hon'ble Apex Court an amount of Rs. 1,01,05,990/- was realized and deposited with State Bank of India, Main Branch, Kolkata. Even if the sale proceeds of Rs. 1,01,05,990/- is taken to be the market value of the seized goods then also the margin of profit will be more than 300%. Accordingly Bench is of the considere ..... X X X X Extracts X X X X X X X X Extracts X X X X
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