2000 (10) TMI 251

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.... shown at US $ 0.40 per Kg. Customs Authorities did not accept the value shown in the Bill of Entry, Bill of Lading and the Invoice. The value was enhanced to US $ 0.50 CIF per Kg. Accordingly, the value of the imported materials was found to be Rs. 21,96,902.00 as against Rs. 15,50,764/- shown in the Bill of Lading. Consequently, the lower authorities came to the conclusion that the import of the consignment was against the Provisions contained in Sections 111(d) and 111(m) of the Customs Act. Consequent to this, goods were directed to be confiscated. Importer was given an option to redeem the same on payment of a redemption fine of Rs. 10 Lakhs. Penalty of Rs. 2 Lakhs was also imposed invoking the Provisions contained in Section 112(a) of....

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....his agreement to the enhancement of value, he affixed his signature on the back of the Bill of Entry. After having agreed to the enhancement it is, according to learned Departmental Representative, not open to the importer to challenge the enhancement. The value of the goods imported was found to be Rs. 21,96,902/-. Goods worth that amount was sought to be imported by mis-declaration on account of absence of the specific licence. Such import was in contravention of the Provisions contained in Sections 111(d) and 111(m) of the Act. So the fixation of Rs. 10 lakhs as a redemption fine, at less than 50% of the value is reasonable and it calls for no interference. Regarding the imposition of penalty, it was contended by the learned Departmental....