2009 (2) TMI 219

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..... Section 130 of the Customs Act, 1962 (for brevity, 'the Act') and has challenged order dated 17-12-2007, passed by the Customs, Excise and Service Tax Appellate Tribunal, New Delhi (for brevity, 'the Tribunal'). 2. The Tribunal has found that there was no ground for enhancing the fine and penalty for the reason that redemption fine is always computed on the basis of margin of profit which is lik .....

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..... proviso to the section clearly envisage that the fine is not to exceed the market price of the goods confiscated, less in the case of imported goods the duty chargeable thereon. The Tribunal has recorded categorical finding that no inquiry for ascertaining the market price was held. Therefore, the basic requirement for application of Section 125 of the Act is missing. Even otherwise, the provisio .....

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