9911796707
TMI Blog2003 (12) TMI 195X X X X Extracts X X X X X X X X Extracts X X X X ..... lty of Rs. 1,75,000/- on goods valued at Rs. 11,13,816/-. Hence this appeal. 2. Heard both sides and considered the issue, it is found - (a) The loading of valuation is 'not pressed' by the learned Advocate. Appeal on that issue is rejected. (b) As regards redemption fine, it is found - (i) On margin of profit, the Customs Appraising Manual Vol. II, Second Ed., published in 1990 prescribes in Chapter 5, Para 5 as - "5. Margin of profit : (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 fixi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on-interchangeable parts of machinery and equipment (except cinema equipment) designed for use in project, mining, factories, agriculture, laboratories, training institutes and hospitals ("Equipment" will include instruments, apparatus and appliances and also specialised vehicles like Dumper and Fork-lift trucks). (ii) (a) Unfinished forms, casting and forging of non-interchangeable parts specified under (i) above, and (b) Specified alloys for the manufacture of non-interchangeable 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 clarifie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... held by this Tribunal in the case of Gripwell Forgings Tools [2002 (146) 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 45% ..... X X X X Extracts X X X X X X X X Extracts X X X X
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