TMI Blog2017 (8) TMI 766X X X X Extracts X X X X X X X X Extracts X X X X ..... ineer assessment and also resorted to Customs Valuation Rules, 1988 to arrive at the enhanced value of US$ 8861.50. This being so, they cannot now allege arbitrariness. We therefore do not find any reason to interfere with the enhancement of the assessable value. Redemption fine - penalty - Held that: - it is very reasonable and proportionate to the enhanced value and also to the nature of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o description and also to appraise the value of the second hand goods with the help of an independent approved Chartered Engineer. It appeared to the department that the value declared was not correct and required to be enhanced. The importer vide letter dated 05.09.2007 has stated that they accept enhancement of value to USD 8,861.50 (C F) for payment of Customs duty and that they do not posses a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... earing, on behalf of the appellant, Ld. Advocate Shri A.K Jayaraj reiterated the grounds of appeal, in particular, he submitted that this is not the case where personal penalty should be imposed; that the Commissioner has failed to note the correct market price and margin of profit to arrive at the redemption fine. Hence redemption fine and penalty imposed is arbitrary and unreasonable. 5. On b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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