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TMI Blog2017 (3) TMI 830X X X X Extracts X X X X X X X X Extracts X X X X ..... e is filed against the redemption fine and penalty imposed. 2. The appellants imported second hand Multi-Functional Device (MFD) Copiers cum printers on 23.01.2013 by declaring the value as Rs. 35,50,593/-. Basing upon the Chartered Engineer Certificate, the department assessed the value and enhances the same as Rs. 59,95,260/-. As the import was made without license and in contravention of the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat a market enquiry was conducted for ascertaining the margin of profit no such data was given to the appellant. That the margin of profit of 37.8 taken by the authority below is highly high and excessive. He pleaded that the penalty and redemption fine imposed is therefore higher than 25% of the enhanced value and may be reduced. 4. Against this the Ld. AR Sh. Arun Kumar reiterated the findings ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... taken as 37.8 to impose the Redemption Fine and penalties. In view thereof, I consider that the Redemption Fine and penalty imposed are highly excessive. Reducing the Redemption Fine to Rs. 13 lakhs and the penalty to Rs. 6 lakhs would meet the ends of justice. The impugned order is set aside and modified to the extent of reducing the redemption fine Rs. 13 lakhs and penalty to Rs. 6 lakhs withou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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