2011 (8) TMI 299

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....WADHAWA   After hearing both sides, we note that the appellants imported goods by declaring the same E-Coat steel wheel of harvester combine , with the declaration of classification as customs tariff heading 8433.90 claiming benefit of concessional rate of basic custom duty and full exemption from CVD in terms of tariff rates. However, on examination, the goods were found to be steel wheel....

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.... with an option to redeem the same on payment of redemption fine of Rs.10 lakhs.   3. Learned Advocate appeared for the appellant does not dispute the finding of mis-declaration of description of the goods. However, he submitted that the value adopted by the Commissioner on the basis of one contemporaneous bill of entry is not justified inasmuch as there are many other bills of entry showi....