2016 (12) TMI 1372

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..... he appellant has declared values which are very much less than the minimum specified as above. Consequently, the import goods are liable for confiscation as has been held by the authorities below - however, the ends of justice will be met by reducing the redemption fine to 7.5% of the value of the goods approved for payment of duty. The penalties imposed are, however, upheld - decided partly in fa .....

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..... cordingly they proposed enhancement of value to the above extent and passed the consignment after adjudication. The goods were ordered for confiscation and allowed for redemption only on payment of redemption fine and penalties in addition to the applicable customs duties at the enhanced value. The appellants challenged these assessments before the Commissioner (A), who finalised the same by issu .....

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..... minimum value of CIF US $ 2700 per cubic metre. It is also not disputed that the appellant has declared values which are very much less than the minimum specified as above. Consequently, the import goods are liable for confiscation as has been held by the authorities below. The only grievance of the appellant is that the redemption fine and penalties imposed are very high. The Commissioner (A) ha .....

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