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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 ..... per : 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 an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eem 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 be conside ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 Bills of E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er. 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 its actual ..... X X X X Extracts X X X X X X X X Extracts X X X X
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