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TMI Blog2001 (4) TMI 256X X X X Extracts X X X X X X X X Extracts X X X X ..... r : K. Sreedharan, President]. - Appellant imported a used four colour offset printing machine "Polygraph Planeta P44" of the size 710 x 1020 mm, along with standard accessories and equipments. In the Bill of Entry the machine was declared to be of 1991 model and the value was shown at Rs. 19,12,400/-. Model of the machine was doubted by the Department as also its value. To save demurrage a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o redeem on payment of Rs. 1,50,000/- is not under challenge. In view of this submission we uphold the impugned order in so far as imported machine was ordered to be confiscated subject to the importer's right to redeem it on payment of a fine of Rs. 1,50,000/-. Imposition of penalty of Rs. 50,000/- on the importer under Section 112(a) is also confirmed. 3. Now the question that remains to b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mported machine was Indian Rupees 22,60,000/- only. 4. Learned Commissioner appears to have taken into consideration the CIF value of similar machine imported as per Bill of Entry No. 230209, dated 24-8-2000 and Bill of Entry No. 230432, dated 28-8-2000 at ICT, Tughlakabad. The nature of the machine covered by these Bills of Entry is not stated in the impugned order. Nor were copies of those ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner. As per certificate issued by the manufacturers' Agent in India, the value of this machine could be Indian Rupees 22,60,000/- in 1984. Import was in 2000. Depreciation, on account of its use for nearly 16 years, must be more than 50%, but the importer declared the value at Rs. 19,12,400/-. The value, given by the importer can under no circumstances be considered to be meagre or below ..... X X X X Extracts X X X X X X X X Extracts X X X X
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