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TMI Blog2015 (9) TMI 1258X X X X Extracts X X X X X X X X Extracts X X X X ..... also has a bearing on the margin of profit (MOP) of the seized goods. Value of seized goods indicated in annexure A dated 17/09/2003 are also basis on the market value prevailing at the time of seizure. However, appellant has furnished certain invoices before the adjudicating authority which also represent the market value of the seized goods. Even if, the documents furnished by the appellant were not considered proper documents to cover the seized goods but the same will also represent the prevailing market price of comparable goods. - Matter remanded back - Decided in favour of assessee. - CSM/117/2005 - Order No : FO/A/75495/2015 - Dated:- 11-9-2015 - Shri H.K. Thakur, Technical Member, J. For the Petitioner : Sri B.N. Chattopadh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the goods seized are not notified under Section 123 of the Customs Act, 1962 and therefore, the onus does not lie with the appellant to establish that the goods are not smuggled. That Commissioner (Appeal) has wrongly relied upon the judgment of Hon ble Supreme Court in the case of Krishna Vs. State of Punjab [1993 (67) ELT 17 (SC) where the goods were seized under the reasonable believe that the same are smuggled goods. It was the case of the appellant that there is no indication in the records available that goods were of foreign origin and also that the goods are not notified under Section 123 of the Customs Act, 1962. It was further argued by the Ld. Consultant appearing on behalf of the appellant that all the required documents under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le High Court on the issue of applicability of Section 123 of the Customs Act, 1962 and on the aspect that if the documents furnished by the appellant are in order then the goods should be released. It has been observed by Hon ble High Court that market value of the seized goods has been arbitrarily arrived at by CESTAT. Regarding determination of redemption fine, the same is required to be based on the basis of prevailing market value of the goods. Secondly, redemption fine imposable also has a bearing on the margin of profit (MOP) of the seized goods. Value of seized goods indicated in annexure A dated 17/09/2003 are also basis on the market value prevailing at the time of seizure. However, appellant has furnished certain invoices before ..... X X X X Extracts X X X X X X X X Extracts X X X X
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