9911796707
TMI Blog2014 (5) TMI 202X X X X Extracts X X X X X X X X Extracts X X X X ..... Rakesh Kumar: The respondent imported a consignment of cut and polished precious and semi precious stones, rough of semi precious stones and filed a bill of entry no. 1103 dated 20.03.2008 for their clearance. In the bill of entry, the value of unit price of the Cut Rubilite was declared as 1.65 US$ per ct., the value of the Cut Emeralds was declared as 1.25 US$ per ct. and the value of Rough of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - and also ordered confiscation of the goods viz. cut rubilite and cut emerald under Section 11(m) of the Customs Act, 1962 for misdeclaration of their value. The confiscated goods, however, were allowed to be redeemed on payment of fine of Rs.1,50,000/- and besides this, penalty of Rs.1,00,000/- was also imposed under Section 112 (a) of the Customs Act, 1962. On appeal being filed against this or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y, the declared value of the rough rubilite is Rs.25 US $ per carat , which is not possible, as the price of rough rubilite stone is higher than the value of the cut & polished rubilite and that this shows that in order to evade the payment of duty, the value of cut rubilite and cut emerald has been misdeclared, as while the rate of duty on the rough rubilite is nil, the cut & polished preci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rough rubilite stone, which in this case is Rs.25 US $ per carat. Accordingly, the department has got the value of cut & polished rebilite and cut & polished emeralds ascertained by a Panel of Gems experts. However, ongoing through the opinion of the experts as discussed in the order-in-appeal and in the order-in-original, we find that the experts have simply given the value without mentioning as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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