2000 (8) TMI 806

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....oy, JDR, for the Respondent. [Oder per : Dr. S.N. Busi, Member (T)]. -  In the present appeal, the appellant M/s Krishna Trading Co., Ahmedabad has challenged the order-in-appeal dated 6-10-1998 of Commissioner of Customs (Appeals), Calcutta. The issue relates to valuation of the impugned goods and imposition of fine and penalty in respect of the same. 2. Shri A.K. Chatterjee, l....

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.... 3 of the Customs Valuation Rules. The learned Consultant further submits that the Revenue ought to have accepted the transaction value in the absence of imports at higher price of identical or similar goods. In this regard, he relies on the decision of the Tribunal in Collector of Customs vs. International Export Inc. reported in 1992 (62) E.L.T. 608 (Tribunal). As regards the imposition of fine,....

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....epends upon the quantum of it inasmuch as the items imported are fancy items in respect of which no import licence was produced. As regards imposition of penalty of Rs. 47,000/-, Shri Roy submits that having regard to the nature of offence committed, the same is quite reasonable. 4. We have heard both sides. We find that as per the Customs Valuation Rules, the valuation has to be done sequ....

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....dervaluation and failure on the part of the appellant to produce import licence. The appellant concedes contravention of the import policy but seriously contended the charge of undervaluation. We find that the method of valuation adopted by the Revenue is improper. As such, impugned goods are liable to confiscation only on the ground of non-production of import licence. We are, therefore, of the v....