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TMI Blog2004 (8) TMI 597X X X X Extracts X X X X X X X X Extracts X X X X ..... ated 13-2-2004 issued by the DRI, Mumbai Zonal Unit. The S.C.N. alleged, inter alia, undervaluation of 28 horses imported by S.S.F. as well as 22 horses imported by C.S.A.F. and, accordingly, proposes to demand a differential duty of Rs. 1,12,68,490/- and to adjust the deposit of Rs. 1,12,33,694/- voluntarily made by S.S.F. during the investigation stage, against the aforesaid demand. The notice also proposes to confiscate the horses imported, charge interest on the duty evaded and to impose penalties on S.S.F., and the co-applicants referred to above. 2. In the application filed, S.S.F. have pleaded that though the manner of valuation and the consequent allegation of short levy is disputable on merit, they accept to pay the additional du ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... would have been more than Rs. 10 Lacs. (ii) In respect of the 7 mares which were sold in auction, the S.C.N. proposes to demand duty on basis of the auction prices, even though they were not the buyers at the auction. However, they had accepted the demand without any hesitation for the sake of settlement. (iii) In the case of 18 horses, the applicants voluntarily made enquiries with their foreign equine agents on the approximate values in the context of dispute in valuation, and disclosed it to the department and accepted the additional duty liability on that basis. (iv) Out of the total duty demanded in the S.C.N., demand in respect of 23 horses was clearly time barred in terms of Section 28 (1) of the Customs Act, 1962, being ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hfully, and have also fully co-operated with the settlement proceedings by admitting even a time barred amount, and by voluntarily waiving the abatement sought for on horses not sold in auction and by enquiring about the value of 18 horses with their equine agents, and voluntarily furnishing the said information, thus paving the way for issue of S.C.N. We also find that the Mumbai Bench of the Settlement Commission in the case of M/s. The Poona Stud Farm Private Ltd. had granted full immunities considering the acceptance of time barred demands without a demur. The department also has no objection for the grant of immunities sought by applicant. 7. Accordingly, taking into account the entire facts and circumstances discussed above, the cas ..... X X X X Extracts X X X X X X X X Extracts X X X X
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