2004 (5) TMI 443

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.... fines and penalties as follows :- Description Enhanced    Redemption    Personal of Goods Value    Fine    Penalty Engines 5,03,977/ - 5,04,000/ - 51,000/ - Seats 10,000/ - 2,500/ - 1,000/ - Engines 4,75,193/ - 4,76,000/ - 48,000/ - Seats 10,000/ - 2,500/ - 1,000/ - Engines 5,01,407/ - 5,02,000/ - 50,000/ - Seats 10,000/ - 2,500/ - 1,000/ - The import was made in March, 2000. The ld. Advocate for the appellants does not press the loading of the valuation and appeal on that issue is therefore dismissed. (b) As regard the redemption fine and penalties it is found that the Bench....

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....respect of M/s. Nank Trading Co. v. CC, Mumbai in the matter of imposition of fine and penalty on used Diesel Engines where fine was 100% of the value and penalty of 10% thereof has been considered reasonable and appropriate. I have also considered that in view of the recent price hike of about 40% on the Diesel price, which would make such Engines uncompetitive as compared to other Automobile Engines of different fuels leading to possible reduction of Margins." and therefore he has imposed a redemption fine of 100% and penalty of 10%. The order does not take into consideration the important fact that the decision of the Bombay High Court in Writ Petition No. 1767/99 making it mandatory for vehicles to convert from diesel engine and LPG ....