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TMI Blog2008 (5) TMI 536X X X X Extracts X X X X X X X X Extracts X X X X ..... espondent. [Order per P. Karthikeyan, Member (T)]. After hearing both sides on the early hearing petition and the stay application, we take up the appeal proper for disposal after dispensing with the requirement of pre-deposit. M/s. G.B. Trading Company (GBT), Cannaught Place, New Delhi filed a Bill of Entry No. 429468 dated 5-2-08 for import of 113 units of used photocopiers declaring a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lar No. 78/2003-Cus., dated 1-9-03, instructed that importers of second-hand machinery contravening Exim Policy should not be allowed to make a profit on the import. He found that by enhancing the assessable value of the impugned goods following the recommendation of the Chartered Engineer, the original authority had rightly rejected the transaction value. The value determined was proper. 3. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r reduction in fine and penalty 4. We have also heard the ld. SDR who reiterated the findings of the Commissioner (Appeals). 5. We have carefully considered the rival submissions. As the appellant has accepted the enhanced value for assessment, the appeal is confined to prayer for reduction of fine and penalty. We find that the order of the lower authorities confiscating the impugned goods for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fine is imposed to redeem the goods, a suitable deterrent penalty is called for. We find that 15% of the value will be an appropriate penalty in the facts of the case. Accordingly, we reduce the redemption fine from Rs. 7.5% lakhs to Rs. 3.75 lakhs and penalty from Rs. 3.75 lakhs to Rs. 2.25 lakhs. The appeal is disposed off. The early hearing application and the stay application also get disposed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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