2017 (1) TMI 1274

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..... demonstrated that the goods imported has still life for the commercial utilization - residual method adopted for valuation is justified. So far as redemption fine is concerned, for no market enquiry done by the authority, to ascertain market value, it is considered proper that imposition of redemption of ₹ 1,00,000/- may be justified. So far as penalty of ₹ 85,000/- is concerned, .....

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..... 5,000/- is unwarranted. 2.Revenue on the other hand sys that the goods imported has to meet the test of transaction value as a matter of Rule. When the declared value was found to be abnormally low, department resorted to guideline provided by Rule 8 of the Valuation Rule, 1988. Accordingly, assessable value was determined. Therefore, there should not be interference to the adjudication. 4. .....

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..... o market enquiry done by the authority, to ascertain market value, it is considered proper that imposition of redemption of ₹ 1,00,000/- may be justified. Therefore, that is reduced to ₹ 1,00,000/- (Rupees One Lakh only). So far as penalty of ₹ 85,000/- is concerned, in absence of any ingredient to prove malafides of appellant, imposition of penalty of ₹ 50,000/- (Rupees Fi .....

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