2011 (7) TMI 997

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..... r, the appellants are the owner of the car and there is violation of Transfer of Residence scheme in the purchase of the car within two years of the importation. Therefore, it cannot be held that the appellants are bona fide purchaser of the car. car is liable to be confiscated. redemption fine reduced.
Shri Ashok Jindal, J. REPRESENTED BY : Ms. Aparna Hirandagi, Advocate, for the Appellant. Shri A.K. Prabhakar JDR, for the Respondent. [Order]. - The appellants have filed these appeals against the imposition of redemption fine for violation of the provisions of Sections 111(m) and 111(o) of the Customs Act, 1962 on M/s. Priyanka Overseas Pvt. Ltd., and penalties of Rs. 10,000/- each (on both the appellants) under Section 112 of the .....

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..... fiscated and allowed to redemption on payment of Rs.5.5 lakhs and penalties on both the appellants were imposed. Aggrieved by the above order, the appellants are before me. 3.  The learned Advocate for the appellants appeared and submitted that the appellants are the bona fide purchaser of the car and they were not aware of the fact that the model number of the car has been mis-declared. Shri Ayoob Hamid Ebrahim has mis-declared model number of the car to the custom authorities with intention to evade duty. Moreover, the car has been transferred in the name of the appellant after expiry of the period of two years and they have not violated the condition of importation of car under Transfer of Residence Scheme. Therefore, redemption fi .....

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..... sp;Heard and considered. 6. In this case, it is a fact on record that Shri Ayoob Hamid Ebrahim has imported the car in 2004 by mis-declaring the model No. of the car. It is also an admitted fact that the appellants themselves have arranged the loan for the car and were having possession of the car under lease agreement as the vehicle imported under Transfer of Residence scheme are not allowed to be sold for two years. When the appellants are in possession of the car and arranged loan for the importation of the car, the appellants are the owner of the car and there is violation of Transfer of Residence scheme in the purchase of the car within two years of the importation. Therefore, it cannot be held that the appellants are bona fide p .....

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