2017 (3) TMI 828

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..... oduced which restricted the import of such goods. Therefore, imposition of such high penalty is not warranted in the circumstances of the case - reduction of penalty to an amount of ₹ 15,000/- would meet the ends of justice - an amount of ₹ 3,15,000/- as redemption fine would meet the ends of justice - appeal allowed - decided partly in favor of appellant. - C/3107/2012 - A/30167/2017 .....

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..... Thereby the adjudicating authority imposed redemption fine of ₹ 4,30,000/- and penalty of ₹ 2,15,000/-. In appeal, the Commissioner (Appeals) upheld the same. Hence this appeal. 3. On behalf of the appellant, the Ld. Counsel Sh. Y. Sreenivasa Reddy submitted that the appellant is not challenging the enhancement of value and is confining the contest in the appeal on the redemption f .....

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..... arriving the margin of profit if any is wrong. 4. Against this, the Ld. AR reiterated the findings in the impugned order. He submitted that the appellants have violated the condition laid in para 2.17 of FTP and therefore redemption fine and penalty imposed is reasonable and proper. 5. I have heard the submissions made before me. As narrated above the appellant had placed the purchase order .....

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