2008 (10) TMI 192

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..... r : P. Karthikeyan, Member (T)].- M/s. Verismo Impex, Chennai, had imported a consignment of used colour monitors and declared a value of US $ 6750 in the Bill of Entry dated 13-8-2001. The original authority enhanced the assessable value to US $ 18708.88 under Rule 8 of CVR following the depreciation method. In the impugned order, the Commissioner (A) found that the original authority had rejecte .....

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..... items imported without a requisite license, its confiscation under Section 111(d) of the Customs Act, 1962 was sustained by the Commissioner (A). However, he reduced the redemption fine ordered from Rs.1,75,000/- to Rs.1,00,000/-. A penalty of Rs. 20, 000/- imposed in the order in original was affirmed as reasonable. 2. The importer has challenged the impugned order on the basis that invoice valu .....

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..... as a quasi judicial authority. The impugned order was vitiated by arbitraneous. The appellants had not been furnished results of market enquiries relied on. This amounted to violation of natural justice. The redemption fine ordered was excessive and arbitrary and the penalty was not justified. 3. Heard both sides. 4. We have carefully considered the case records and the submissions by both side .....

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..... 8/- by depreciation method. The same was rejected by the Commissioner (A) as unsubstantiated and the value fixed at Rs. 4,03,402/- relying on the certificate of SGS. We do not think that the department was not justified in rejecting the transaction value based on the Chartered Engineer's certificate. As per the valuation by Chartered Engineer, the value declared was very low. Moreover, the importe .....

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..... profit and the redemption fine of Rs. One lakh ordered does not appear to be unreasonable. The penalty has been sustained at a very reasonable Rs. 20,000/-. In the circumstances, we don't feel that the impugned order calls for any interference by us. The appeal filed by M/s. Verismo Impex is dismissed. (Operative part of the order pronounced in the open Court on 7-10-2008)
Case laws, Decisio .....

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