9911796707
TMI Blog2003 (6) TMI 296X X X X Extracts X X X X X X X X Extracts X X X X ..... khon, Member (T)]. The appellants are manufacturers of Quartz Alarm Clocks in SSI Sector. The appellant placed an order favouring to M/s. Wellgain Precision Products Ltd., Hong kong by opening of L/C (Letter of Credit) bearing No. 023069614, dated 8-3-1996 that was further amended on 21-3-1996. (i) In pursuance of order and L/C the Hong kong supplier supplied the goods vide their ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed are restricted item as per the current policy, goods are liable to confiscation. Accordingly, order confiscating the goods under Section 111(d) of the Customs Act, 1962 giving the appellants an option of redemption on payment of fine of Rs. 75,000/- and a penalty of Rs. 10,000/- on the appellants under Section 112(a) of the Customs Act, 1962 was passed. 2. The appellants appeared before Commi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... penalty from Rs. 70,000/- and Rs. 7,000/- respectively. 3. When the present appeal was called, none appeared for the appellant. Heard the DR and considered the grounds in appeal and find - (a) The finding of Commissioner (Appeals) that L/C was opened on 8-3-1996 and case was cleared payment of duty on 4-5-1996 which would be more than 45 days is ignoring the provisions of Para 5 of the policy. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
