2008 (5) TMI 536

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...., SDR, for the Respondent. [Order per P. Karthikeyan, Member (T)]. -  After hearing both sides on the early hearing petition and the stay application, we take up the appeal proper for disposal after dispensing with the requirement of pre-deposit. M/s. G.B. Trading Company (GBT), Cannaught Place, New Delhi filed a Bill of Entry No. 429468 dated 5-2-08 for import of 113 units of used phot....

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....g that CBEC vide its Circular No. 78/2003-Cus., dated 1-9-03, instructed that importers of second-hand machinery contravening Exim Policy should not be allowed to make a profit on the import. He found that by enhancing the assessable value of the impugned goods following the recommendation of the Chartered Engineer, the original authority had rightly rejected the transaction value. The value deter....

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....n a number of cases. He prays for reduction in fine and penalty 4. We have also heard the ld. SDR who reiterated the findings of the Commissioner (Appeals). 5. We have carefully considered the rival submissions. As the appellant has accepted the enhanced value for assessment, the appeal is confined to prayer for reduction of fine and penalty. We find that the order of the lower aut....