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TMI Blog2002 (6) TMI 486X X X X Extracts X X X X X X X X Extracts X X X X ..... d goods. M/s. Metals Minerals Trading Corporation (hereinafter referred to as MMTC) were the nominated agency for the import of gold and silver for supplying the same to Gem and jewellery units in the NEPZ. The exemption under Notfn. No. 177/94-Cus., dated 21-10-94 or No. 258/87-Cus. was available to the MMTC for such imports. M/s. MMTC wrote a letter dt. 24-1-95 to the Commissioner of Customs, Delhi in which they informed that they have been defrauded for an amount of Rs. 1.20 crore approximately by way of non-realisation of export proceeds of 12 kgs. of gold issued to M/s. Pretty Woman on loan basis. The 13 kgs. of imported gold was received by the appellants from MMTC on loan basis without payment of duty under Customs Notfn. No. 177/9 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he duty liability on MMTC or otherwise Department will be free to take up the matter again to determine duty liability after final outcome of the case presently under Appeal before Hon ble CEGAT, New Delhi is known. (b) I impose a penalty of Rs. 5,50,000/- (Rs. Five lacs Fifty Thousand only) on M/s. Pretty Woman, Plot No. 176, NEPZ, Noida u/s 112 of the Customs Act, 1962 for non-export of jewellery within the stipulated period manufactured out of non duty paid gold procured from MMTC. (c) I also impose a penalty of Rs. 1,00,000/- (Rs. One lac) each on its partners namely Sh. Raman Mehta and Smt. Ranjana Mehta u/s 112 of the Customs Act, 1962. (d) I order confiscation of the gold plated silver jewellery weighing 10480 gms. valued at Rs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .L.T. 412 (Tri. - Del.). In this decision, the Tribunal has held that M/s. M.M.T.C. are liable to pay the duty of Rs . 7,07,01,428/- for the gold imported by them without payment of duty in respect of which no account of consequential exports has been rendered. In this decision, the Tribunal has also held that they are liable to a penalty of Rs. 2.5 lacs. It is submitted that the gold weighing 12 kgs. - subject-matter of consideration under the present proceedings - is part of the same gold in respect of which a total duty of more than Rs. 7 crores has been confirmed on M.M.T.C. and a penalty of Rs. 2.5 lacs is also imposed on them. Consequently, it is contended that there is no ground for imposition of any penalty on the present appellants ..... X X X X Extracts X X X X X X X X Extracts X X X X
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