1997 (7) TMI 321

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..... i Shankar, Member (T)]. The appeals are against the common order of the Additional Collector of Customs imposing a penalty of Rs. 3 lakhs on Kirit D. Bhutta appellant in C/92/91-Bom. and Rs. 2 lakhs on Naresh P. Shah appellant in C/93/91-Bom. 2. The first appellant Kirit Bhutta was the proprietor of M/s. Chemographic and the second appellant the Manager. Penalties have been imposed followi .....

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..... freely importable by an actual user which would be printers and that therefore the profit that the appellant could have made on the transaction would be insignificant. 4. The departmental representative contends that the margin of profit at the relevant time could not have been less than 50% and that the appellants had been instrumental in making a series of imports over a period of time in purs .....

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..... the import of these goods. Taking these facts into account and also the fact that the goods which the first appellant imported had been absoluted confiscated, we are of the view some leniency in the matter in penalty is called for. Accordingly we reduce the penalty on Kirit D. Bhutta from Rs. 3 lakhs to Rs. 1 lakh and on Naresh P. Shah from Rs. 2 lakhs to Rs. 50,000/-. - - TaxTMI - TMITax - C .....

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