2006 (2) TMI 554

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..... Order per : Archana Wadhwa, Member (J)]. After hearing the learned Advocate, Shri Biswajit Mukherjee for the appellant company and Shri Uday Kumar, learned J.D.R. for the Revenue, we find that the appellant company imported Concentrates of Alcoholic Beverages declared as Undenatured Ethyl Alcohol. The total value of the consignment was around Rs. 18.00 lakh (Rupees eighteen lakh). Inasmuch a .....

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..... e appellant company to redeem the same on payment of redemption fine of Rs. 55.00 lakh (Rupees fifty-five lakh), after observing that the margin of profit works out to 350% on the declared CIF value. For arriving at the above margin of profit, he took into consideration the Press Clippings of Times of India, Bombay , showing that various whisky bottled in India from imported Concentrates were sol .....

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..... llant company vide its letter dated 31-12-1993 addressed to the Assistant Commissioner of Customs, sought clarification as regards the licensing angle. The Assistant Commissioner of Customs vide its letter dated 4-4-94, intimated the appellant company that the Undenatured Ethyl Alcohol was freely importable without coverage of any ITC Licence, provided that the said Alcohol was not meant for direc .....

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