2017 (3) TMI 832

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..... that they are 100% subsidiary of the supplier of the cranes and the goods i.e. cranes were meant only as transfer of assets, the acceptance of the fact that the goods are liable for confiscation u/s 111(m) of the CA, 1962, he imposed penalty on the respondent u/s 112(a) of the CA. The adjudicating authority has quite correctly held in para 51 and 52 that penalty u/s 114A of the CA, 1962 on the res .....

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..... the case in hand are the respondent herein had sought clearance of used crawler cranes by filing a bill of entry. Revenue department seized the goods at the port before clearance on the allegation of difference of valuation. Respondent herein deposited the duty liability and took the clearance as also deposited a revenue deposit and executed a bond and bank guarantee. Subsequently, after investig .....

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..... d not impose any penalty on the managing director and the director of the respondent. Hence this appeal. 3. Learned departmental would take us through the entire case records and submit that in the instant case there is a suppression of facts and wilful misstatement, hence the provisions of Section 114A and 114AA would be attracted for imposition of penalty. It is his submission that by not imp .....

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..... that in para 51 of the impugned order that though the respondent has not declared the fact from the department that they are 100% subsidiary of the supplier of the cranes and the goods i.e. cranes were meant only as transfer of assets, the acceptance of the fact that the goods are liable for confiscation under Section 111(m) of the Customs Act, 1962, he imposed penalty on the respondent under Sec .....

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..... r adjustment of the dues as per the impugned order, an amount is to be refunded to them and also seeking direction of the Bench for release of the bond and bank guarantee executed by them. We find the prayer of the learned counsel is quite correct and acceptable. We direct the Revenue department to refund the balance amount which is in excess after adjustment of the dues as per the impugned order .....

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