2000 (5) TMI 264

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....rned SDR, submitted that M/s. Kamani Oil Industries imported a quantity of 491.803 tonnes of Top White Tallow from Newzealand and sought their clearnaces against export house licence issued in the name of Nagesh Housing Export and transferred to Arvind Export Pvt. Ltd. A show cause notice dated 14-6-1983 was issued to the respondents as Beef Tallow was neither covered by the description of goods in import licence nor by the list attached to the licences, that the Collector Customs, Bombay under the impugned order held that two licences were not valid for import of Beef Tallow and accordingly the goods were held to be liable for confiscation under Section 111(d) of the Customs Act; that the Collector, however, allowed the redemption of the c....

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.... Revenue to show the margin of profit in Beef Tallow in India; that as per the Review order passed by the CBEC, the margin of profit is estimated to be more than 100% which goes to show that even Reviewing authority was not sure about the margin of profit in India. He relied upon the decision in the case of Fancy Dyeing and Printing Works v. Collector of Customs, Bombay, 1997 (96) E.L.T. 329 wherein it was held that for the purpose of determining the quantum of redemption fine, the market price is necessary; that neither side could indicate what the price during the relevant period was, in the absence of which the Tribunal refused to interfere with the order in dispute. The learned Advocate submitted that imposition of penalty under Section....