2000 (4) TMI 617

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.... Appellant has challenged the imposition of redemption fine of Rs. 20,000/- and penalty of Rs. 2,000/- in terms of the order-in-appeal No. 45/98 dated 26-3-98 on account of misdeclaration of the Bill of Entry and the invoice also. Their contention is that the overseas supplier did not inform them about the actual despatch of four machines, instead informed them of two machines and they under the b....

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....fine from Rs. 40,000/- to Rs. 20,000/- 2. Heard both the sides in the matter. 3. The learned Counsel for the appellants contends that, the bona fide belief on the part of the appellants having been established, there should not have been an order of confiscation and imposition of penalty on the appellants as the mistake was genuine and not with an intent to evade payment of duty. She a....

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....ction 111(m) then the goods are required to be confiscated. He submits that the redemption fine can be imposed upto 100% of the market value of the goods in terms of Section 125. He further submits that both the authorities below have imposed a nominal redemption fine and penalty which should be retained. 5. On consideration of the submissions, and on perusal of the order, I notice that both....