2007 (11) TMI 517

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....he Respondent. [Order per : S.L. Peeran, Member (J)]. - The Customs Appeal No. 49/2005 arises from the Order-in-Appeal No. 93/2005 (H-II) Cus dated 30-11-2005 wherein the Revenue has proceeded to value the goods, namely monitors, mice, etc. imported by the appellants on the basis of Chartered Accountant's certificate at US $ 4064 and redemption fine has been imposed to Rs. 2,50,000/-. 2. ....

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....imposition of fine and penalty. The learned Counsel filed detailed written submissions and relies on a larger number of judgments to challenge the revision of the value. He submits that this Tribunal in the case of Rex Printing Press v. C.C., reported in 2005 (184) E.L.T. 73 (T.-Bang.) has reduced the redemption fine and penalty to 10% and 5% respectively in respect of the imported second-hand mac....

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....ion fine and penalty to 10% and 5% respectively of the value of the goods in all these three appeals. 5. The learned DR submits that the valuation of the goods has not been challenged by the appellants and therefore the redemption fine and the penalty should be confirmed. 6. We have carefully considered the submissions made by both the sides and perused the impugned orders. Although th....