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TMI Blog2009 (4) TMI 137X X X X Extracts X X X X X X X X Extracts X X X X ..... bishi Motors in the name of Simon Gilliver. Even the original price of the Car is less than the price adopted by the Commissioner in his impugned order. We also note that Commissioner has not doubted the genuineness of the sale deed between the appellant and seller of the Car Simon Gilliver - . In the absence of any evidence to reject the transaction value, we do not find any justification to arri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r. Simon Gilliver of UK in favour of the appellant. 2. However, the authorities below entertained a view that the value of the Car as declared by the appellant was not correct and proposed to make reference to new Customs House, Mumbai, who vide letter dated 5-3-2001 provided the value of the Car, 1997 model as GBP-27410. The adoption of above value was on the basis of Parker's Car Book - 1988 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Advocate appearing for the appellant that the only basis for enhancement of the value of the Car is the Parker's Car Book. The appellant has produced on record the invoice issued by the seller of the Car and also the original invoice issued by the dealer of Mitshubishi Motors in the name of Simon Gilliver. Even the original price of the Car is less than the price adopted by the Commissioner in his ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... alties imposed for under valuation as well as for ITC violation. The plea of the appellant having been accepted on the point of under valuation, we agree with him that redemption fine and penalty is to be reduced. We accordingly, reduce the redemption fine to Rs. one lakh and penalty to Rs. 50,000/- (Rupees fifty thousand only). The appeal is disposed off in above manner. (Pronounced in the Cour ..... X X X X Extracts X X X X X X X X Extracts X X X X
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