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TMI Blog2017 (4) TMI 1118X X X X Extracts X X X X X X X X Extracts X X X X ..... art of the exporter, penalty under section 114 ibid is definitely imposable on him and in any case, the quantum has been very generously reduced by the Commissioner (Appeals) - penalty of ₹ 50,000/- imposable. As regards redemption fine, we find that the same has also been reduced from ₹ 9,93,000/- to ₹ 1,50,000/- - Section 125 ibid in any case covers infractions not only in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issue in dispute relates to overvaluation of goods attempted to be exported under five shipping bills with claim for duty drawback all dated 13.7.2006. In adjudication, value of the impugned goods was rejected and market value was confirmed as ₹ 9,93,000/-. Goods were also confiscated under various provisions of Customs Act, 1962 and FEMA, 1999, however, allowed to be redeemed on payment of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er appellate authority has held that goods are having lesser value, was not of very high quality material, lying for more than two years and had lost original market/quality and value. Learned counsel submits that this observation itself indicates that there is no margin of profit. Further, the goods are being taken back to from the port to town and as such redemption fine under section 125 is not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner (Appeals). 6. As regards redemption fine, we find that the same has also been reduced from ₹ 9,93,000/- to ₹ 1,50,000/-. Learned counsel has done his best to argue that the redemption fine in such cases is not imposable under section 125. This, in our view, is a misconceived notion. Section 125 ibid in any case covers infractions not only in the case of importation but ..... X X X X Extracts X X X X X X X X Extracts X X X X
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