2000 (1) TMI 610

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....or the Respondent. [Order per : V.K. Ashtana, Member (T)]. -  This is an appeal against Order-in-Appeal No. M. Cus. 488/97, dated 1-5-97 passed by Commissioner (Appeals) with respect to spectacle frames in knocked down condition imported under two Bills of Entry dated 18-7-96. 2. Briefly, the issue concerns alleged unauthorised import thereof as the Advance Release Order dated 2....

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....Bench, he submitted that the Bill of Lading was dated 10-5-96. Ld. Advocate seeks further relief in the quantum of redemption fine on the ground that they obtained advance release order dated 28-6-96 issued by DGFT and therefore imported the goods under bona fide belief that they had necessary legal authority to do so, particularly when DGFT had issued a show cause notice against the licence on 14....

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....led down further. He submits that imposition of redemption fine is normally on the basis of margin of profit which can be calculated by a well settled formula concerning the market price minus landed cost etc. He also submits that appellants have not submitted any evidence that market price is so low that the margin of profit of 25% now imposed is not realistic. 5. We have carefully consid....