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TMI Blog2003 (12) TMI 90X X X X Extracts X X X X X X X X Extracts X X X X ..... values as follows :- Appeal No. Value determined Amount of Redemption fine Penalty C/520/98-Mum Rs. 11,33,378/- Rs. 12,00,000/- Rs. 1,00,000/- C/529/98-Mum Rs. 8,89,049/- Rs. 9,00,000/- Rs. 1,00,000/- C/530/98-Mum Rs. 9,73,606/- under B/E No. 307, Rs. 9,52,925/- under B/E No. 308, Rs. 8,78,516/- under B/E No. 309 Rs. 9,10,000/- under B/E No. 307, Rs. 8,00,000/- under B/E No. 308, Rs. 7,50,000/- under B/E No. 309 Rs. 1,00,000/- under B/E No. 307, Rs. 80,000/- under B/E No. 308, Rs. 70,000/- under B/E No. 309. C/763/99-Mum Total value to Rs. 10,31,232/- Rs. 4,89,000/- under B/E No. 381/28-4-1999, Rs. 5,42,000 under B/E No. 382/28-4-1999. Rs. 49,000/- under B/E No. 381/28-4-1999, Rs. 54,000/- under B/E No. 382/28-4-1999. C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... published in 1990 prescribes in Chapter 5, para 5 as - "5. MARGIN OF PROFITS : (a) Market enquiries — In terms of Section 125 of the C.A. 62 the adjudication officer may impose a redemption fine on the offending goods not exceeding the market price of the goods confiscated less the duty chargeable thereon. It is therefore, understood that while fixing fine in lieu of confiscation the adjudication officer are guided by the margin of profit on the goods indicated by the assessing officer. It is therefore, necessary that the assessing officer should ascertain the market value of the offending goods and keep a record thereof in the file for assistance of the adjudicating officer and future reference. No detailed enquiries may be necessary whe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vehicles like Dumper & Fork-lift trucks). (ii) (a) Unfinished forms, casting and forging of non-interchange-able parts specified under (i) above, and (b) Specified alloys for the manufacture of non-interchange-able parts specified under (i) above. (iii) Specialized raw materials and intermediates for use in mining and in the manufacture of metals and alloys, leather, rubber, mineral oils, drugs and medicines, insecticides, pesticides, etc. Board has also clarified that the fine should be equal to the normal or the margin of profit whichever is higher. It is true that in some cases the norm will be more than the margin of profit, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) E.L.T. 136 (T) = 2002 (103) ECR 67], therefore as prescribed, in the Manual, for Basic goods, redemption fines could not go beyond 50%, if and when so required, special reasons are to be found to exist. No such special reasons are found by the adjudicator in the impugned order. (iii) While upholding the liability to confiscation, it is found that the fine, in this case, as per norms, is required to be not more than 50%. It is therefore reduced to 45% of the c.i.f. value as determined, keeping in mind that subject goods even when old and used have been held to be Capital Goods machinery by this Tribunal. (c) Since redemption fine is being reduced to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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