9911796707
TMI Blog1996 (9) TMI 455X X X X Extracts X X X X X X X X Extracts X X X X ..... per : T.P. Nambiar, Member (J) (Oral)]. - In terms of the impugned order, cassia weighing 53460 kgs. for a declared price of US $ 900 per M.T. was confiscated u/s 111(d) and (m) of the Customs Act, 1962 and the appellant was given an option to redeem the same on payment of a redemption fine of Rs. 30 lacs. The penalty imposed is Rs. 10 lacs. 2. The learned Counsel did not seriously co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bay was the first quality. Therefore similar imports of second quality was not relied on by the department. They have merely relied on the price at New York and London which is not relevant for this case. In such circumstances, when the trader's invoice clearly shows that they purchased the same for US $ 830 and in the facts and circumstances of the case, no ground is made out for enhancement of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and penalty imposed on the appellant. In this connection, the appellant drew our attention to the orders passed by the CC (Appeals) in order Nos. 2470-2477/96, dated 2-3-96 wherein the redemption fine was fixed at the rate of 75% of the c.i.f. value. In this order, the learned Counsel further pointed out that the Collector (Appeals) placed reliance on the previous orders passed wherein similar red ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or not. Further, the learned Counsel in this connection pointed out that in Cochin itself a redemption fine of 50% was imposed and the order in this respect is also produced by him. The bill of entry in this respect is also produced which bears the number 1680, dated 2-4-96. Under the bottom right hand side as per the assessment is concerned, the fine is Rs. 4.25 lakhs in respect of the goods val ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case, as narrated above, we are of the view that the value as declared by the appellant at US $ 900 per M.T. is to be accepted and in facts and circumstances of the case, the redemption fine should be reduced to 75% of the c.i.f. value. Taking into consideration the totality of the circumstances, we reduce the penalty to a sum of Rs.1.00 lac (Rupees one lac). The appeals are disposed of in the abo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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