TMI Blog2017 (1) TMI 407X X X X Extracts X X X X X X X X Extracts X X X X ..... of profit available to the importer is ₹ 25.02 lakhs and also held that the same should be wiped out, accordingly he imposed the penalty of ₹ 21 lakhs and redemption fine of ₹ 4 lakhs. I observed from the grounds of appeal that the Revenue has not questioned the penalty of ₹ 21 lakhs imposed by the Commissioner. Therefore the Commissioner has given a proper justification f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and given the finding that the profit margin of ₹ 25 lakhs stands neutralized by imposing such fine and penalty. The Revenue filed this appeal seeking enhancement of redemption fine. 2. Shri S.J. Sahu, Ld. Asstt. Commr. (A.R.) appearing on behalf of the Revenue reiterates the grounds of appeal. He submits that the margin of profit of ₹ 25 lakhs is not under dispute, therefore as a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n justification as against the margin of profit of ₹ 25 lakhs. On perusal of the impugned order I find that the Commissioner has given the following finding: 8. In view of the aforesaid, it is abundantly clear that the import was unauthorized. The importers were also aware that the import was unauthorized as the goods were restricted goods and they did not posses a valid import licence ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ced value and allowance of concession on account of incidental expenses. This margin is required to be wiped out by way of imposition of redemption fine and penalty . From the above finding, it can be seen that the Commissioner has admitted that there is a margin of profit available to the importer is ₹ 25.02 lakhs and also held that the same should be wiped out, accordingly he imposed t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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