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TMI Blog2013 (6) TMI 556X X X X Extracts X X X X X X X X Extracts X X X X ..... quantity of woven fabrics was also found concealed in the two consignments. The goods were, therefore, held to be liable to confiscation under Section 111(i) and Section 111(m). The total duty liability was assessed at Rs. 80,58,731/-. The petitioners having already paid an amount of Rs. 60,79,130/- at the time of provisional release, the balance that remained to be paid was Rs. 19,79,601/-. The Commission directed the petitioners to pay interest under Section 28AB, a fine of Rs. 15 lakhs in lieu of confiscation and imposed a penalty of Rs. 4 lakhs on the first petitioner and of Rs. 50,000/- on the second petitioner who is a Director. 3. At the hearing of these proceedings, the order of the Settlement Commission has been challenged on thre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a lame or feeble excuse. The Commission, however, in Paragraph 16.12 of its decision held some leniency can be shown since the petitioners have admitted their mistake and made a full and true disclosure of their duty liability by admitting the entire duty amount as demanded under the notice to show cause (as amended by a corrigendum) and the quantity of the goods was according to the declaration given in the Bills of Entry though the contents were largely different. The Commission has considered all the relevant facts and circumstances and has imposed a penalty of Rs. 4 lakhs on the first petitioner and Rs. 50,000/- on the second petitioner. The Commission having considered the entirety of the matter in a proper perspective, we find no reas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssion to have a fresh look on this aspect. Similarly, as regards the imposition of a fine in lieu of confiscation, we have noted the submissions urged on behalf of the petitioners that (i) the duty liability has been assessed at Rs. 80.58 lakhs; (ii) the assessable value of Rs. 86 lakhs is based on a market enquiry (this submission being based on the report filed by the Commissioner of Customs (Import), New Customs House, Mumbai, at page 173 of the Paper-Book). In the circumstances, it has been urged that the redemption fine could not exceed the market value less the duty as assessed. On this aspect as well since there is no reason found in the order of the Settlement Commission, we are of the view that a fresh look on this issue would be n ..... X X X X Extracts X X X X X X X X Extracts X X X X
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