2010 (4) TMI 505

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.... Shri S. Chand, DR, for the Respondent. [Order per : D.N. Panda, Member (J)]. - We have heard both sides. We find that in this case the Adjudicating Commissioner Shri A.K. Srivastava has reduced the declared value of the impugned goods to Rs. 10,66,617/-. However, he has imposed a redemption fine of Rs. 77,94,913/- after ordering confiscation of the impugned goods which were provisionally rele....

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....port value of Rs. 10,66,617/- into account. Even if the appellants sought to defraud the Government preferring an inflated drawback claim of Rs. 8,46,774/-, the penalty imposed should not have been disproportionate to the amount claimed. However, we find that the Adjudicating Commissioner has imposed penalty of Rs. 50 Lakhs on the first appellant and Rs. 5 Lakhs each on the other 2 appellants tota....