9911796707
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Issues: Validity of import license, valuation of goods, imposition of fine and penalty
Validity of Import License: The judgment dealt with the validity of the import license in the context of goods imported. The appellants argued that there were differences in the facts of two matters, specifically regarding the goods involved. However, the tribunal noted that the distinction was not material. The tribunal referenced an earlier order and held that the license did not cover the goods imported, as it did not mention the end-product as cassettes. The tribunal upheld the Collector's findings that the import license did not cover the goods and rejected the appeal in this regard. Valuation of Goods: The judgment also addressed the valuation of goods imported. The appellants contended that there was no evidence to justify the increase in the assessable value of the goods as ordered by the Collector. The tribunal considered the arguments and found that the Department did not prove under-valuation. The tribunal allowed the appeal in terms of the valuation of the goods, stating that the Collector did not provide sufficient justification for passing an adverse order regarding the valuation. Imposition of Fine and Penalty: Regarding the imposition of a fine and penalty, the Collector had imposed a fine of Rs. 1,00,000/- in lieu of confiscation, which was deemed excessive. The tribunal noted that the margin of profit at the relevant time was 50% and ordered the fine to be reduced to Rs. 25,000/- and the penalty to Rs. 5,000/-. The tribunal considered various factors, including subsequent changes in regulations affecting the margin of profit, and concluded that the fine and penalty should be reduced based on the circumstances presented. Ultimately, the appeal was partly allowed, with adjustments made to the fine and penalty amounts.
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