TaxTMI 
TaxTMI 
2006 (7) TMI 446
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.... ruby as per the Invoice No.7/2005, dated 8-9-2005 and US $ 5024.62 for cut precious stone and synthetic stone as per the Invoice Nos. 6/2005 and 8/2005 both dated 8-9-2005 received from their shipper at Bangkok. 2. During the examination of goods on 27-9-2005 it was found that weight of two parcels tallied with the declared weight in all the three invoices and that the value of first parcel containing 714.51 Cts of rough ruby as US $ 89613.75 was fair, but the value in respect of second parcel containing 151.34 Cts. of cut precious stone and synthetic stones i.e. ruby cut stone, blue sapphire cut stone and yellow zircon declared as US $ 5024.62 was not fair. It also appeared that the goods declared as yellow zircon (synthetic stones)....
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....ed Show Cause Notice and asked the department to adjudicate the case without personal hearing on an urgent basis. The matter was thereafter adjudicated wherein the goods were confiscated and released on redemption fine of Rs. 11,20,000/- and a penalty of Rs. 2,00,000/- was imposed on the appellant. 4. The learned Advocate for the appellant submits that the description and value of the goods were entered in the bill of entry on the basis of suppliers invoice and it was a mistake on the part of the supplier to describe the goods as yellow zircon instead of yellow sapphire and hence no fault can be found with the appellant. They have not agreed that the value of the Government Approved Valuer all along and when the goods have been valued....
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....and reference was invited to the letter dated 7-12-2005 addressed to the Deputy Commissioner wherein the appellant has clearly stated that he confessed the misdeclaring the goods as yellow zircon instead of natural yellow sapphire and are finally accepting the value ascertained by the department as value of their goods and are ready to pay the duty along with the interest as per law. They also submitted that the amount of freight as stated in the valuation report is not true as the actual freight has been declared in the invoice and the same may be considered for the calculation of the duty. 6. We have considered the submission. We find that the appellants sole ground of appeal is that he has not been furnished with a copy of trade pa....