TaxTMI 
TaxTMI 
2013 (11) TMI 387
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....44(2) of the Notification no. 21/2002, dated 1-3-2002 (as amended) in the case of the impugned Ferrari 599 GTB car, bearing chassis no. ZFFFD60C000150344 and engine no. F140C110173 imported in the name of Shri Lorenzo Bestonso and cleared under Bill of Entry no. 781548 dated 9-4-2008 filed at Jawaharlal Nehru Custom House, Nhava Sheva. 6.1.2 I confiscate the impugned Ferrari car, having assessable value of Rs. 96,71,457/- (Rupees ninety six lakhs seventy one thousand four hundred fifty seven only) and prevailing market value of Rs. 2,00,00,000/- (Rupees two crore only), bearing chassis no. ZFFFD60C000150344, engine no. F140C110173 and registration no. MH-06-AQ-4545, under Section 111(d) and (m) of the Customs Act, 1962. However, und....
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....tion of penalty under both the sections 112 and 114A of the Customs Act, 1962" 2. The appellants namely Ravindra Mansukh, Praful Manjrekar and Venugopal Nair are also seeking waiver of pre-deposit of the demands confirmed against them. As the importer Lorenzo Bestonso & Alberto Bestonso was granted waiver of pre-deposit vide Order Nos. S/1261-1262/2012/CSTB/C-I, dated 30-10-2012, therefore we waive the requirement of pre-deposit of the penalties sought by Ravindra Mansukh, Praful Manjrekar & Venugopal Nair and take up all the appeals for final disposal. 3. The brief facts of the case are that importer Lorenzo Bestonso imported one car branded Ferrari 599-GTB under bills of entry no. 781548 dated 9-4-2008 through JNCH, Nhava ....
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....oncessional rate of duty as car being a new one. The benefit of Notification was granted after examination of car which was found as new car. Later on, the DRI investigated the matter and found the car is 11 months old and therefore benefit of Notification is not available. The car was confiscated. 6. The ld. counsel for the importer submits that in the show cause notice it is clearly stated that at the time when M/s. Going Rich Ltd. gave their right to the brothers of the importer, the car was in the possession of M/s. Italian Motors Sales & Service (dealer) and directly released to his brother before settling the outstanding amount to the dealer. From the bill of sale, it is mentioned that M/s. Going Rich Ltd. is vendor in the sai....
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....TI Act, it was subject to examination at the time of import and only after confirming as new car, clearance was allowed for home consumption. 8. As per the Import Licensing Note 1(1)(b) to classify the vehicle as used car is it should be registered for use in abroad before its export in India. It is confirmed by revenue board vide Circular No. 1/2005 and the applicability of benefit of Notification was considered by the Hon'ble High Court in CC v. Noshire Moody in Writ Petition No. 2426 of 2012 and the Hon'ble High Court dismissed the writ petition filed by the revenue rejecting the ground whether vehicle is new car or not is a finding of fact. In the present case it was found so in examination at the time of import the car as new. ....
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....e car to the dealer, therefore, payment was enrouted through M/s. Going Rich Ltd. but car was never sold to M/s. Going Rich Ltd. In these circumstances, and from the above facts, we find that the car cannot be held as an old car in the absence of any documentary evidence whether the car was initially registered before exportation to India and was used by anyone. 13. In the case of CC v. Noshire Moody reported in 2012-TIOL-391-HC-MUM-CUS the Hon'ble High Court of Bombay held that the fact which has been found by the Settlement Commission observed that car in fact was a new car which was transhipped from the manufacturer in Italy to the Ferrari dealer in the UK who sold the car to a dealer in the UK. The respondent purchased the car f....