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TMI Blog2011 (4) TMI 67X X X X Extracts X X X X X X X X Extracts X X X X ..... y, the goods were held to be liable for confiscation under Section 111(d) of the Act - It is not disputed that the import by the petitioner was illegal - Once it is so, there is no ground to interfere with the quantum of fine and penalty to be levied - Quantum of fine and penalty depends upon facts and circumstances of a case for which there cannot be any inflexible criteria - The Tribunal having ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e gain to the appellant in view of the provisions of Section 125 of the Customs Act, 1962? b) Whether the Learned Respondent was justified in not considering the Chartered Accountant s C.A. No.61 of 2010 Certificate and the actual losses incurred by the appellant for the purpose of imposition of Redemption Fine in view of the provisions of the Customs Act, 1962? c) Whether the Learned resp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner to redeem the same on payment of redemption fine of ₹ 2,30,000/-. Penalty of ₹ 40,000/- was also imposed. The said order has been upheld by the appellate authority as well as the Tribunal except for reduction of quantum of fine and penalty. It was held that total waiver thereof was not called for but in the circumstances, the fine amount was reduced from ₹ 2,30,000/- to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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