TMI Blog2022 (2) TMI 368X X X X Extracts X X X X X X X X Extracts X X X X ..... s reason that they did not require any show cause notice to be issued to them or a personal hearing to be granted to them. The respondent is, therefore, not justified in asserting that the transaction value has been determined on the basis NIDB data. It was their acceptance of the value that formed the basis for determination of the value. Redemption Fine - Penalty - HELD THAT:- The redemption fine imposed on the appellant is on higher side - Considering the fact that the value of imported goods declared by the appellant has already been enhanced on which the appellant has to pay more duty, therefore, the redemption fine reduced to 20% of the enhanced value and penalty in all the cases reduced to ₹ 10,000/- each. Appeal allow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ters at the time of personal hearing and the goods were allowed to be cleared on payment of duty on enhance value and were also held liable for confiscation wherein redemption fine was imposed at the rate of 50% of the enhance value and penalty were also imposed under Section 112 A of the Act. Against the said orders, the appellant is before us. 3. The ld. Counsel for the appellant submitted that the value has been enhanced arbitrarily although at the time of clearance, the appellant accepted the enhanced value to avoid detention and demurrage charges but by filing the appeal they have lodged their protest for not accepting the declared the value. He further submits that redemption fine and penalty imposed on the appellant were also high ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... value of the goods proposed by the Revenue to save demurrage charges nor did they state in the letter that the value was being accepted by them under protest and they would agitate the matter in appeal. It is only in this appeal that it has been suggested that the value was accepted to save demurrage charges, perhaps prompted by the observations made by the Tribunal in Artex textile Private Limited. 46. Learned counsel for the respondent has also emphasized that NIDE data cannot be the sole basis to reject the transaction value without any cogent reasons. As seen above, the importers had in writing accepted the transaction value and it is perhaps for this reason that they did not require any show cause notice to be issued to them or a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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