2014 (6) TMI 714

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.... The respondent imported the following five items of medical equipments:-          1. Olympus Gastro Video Scope GIF-HI8         2. Olympus Colono Video Scope-CF-H180AL        3. Olympus Extra Video Scope-CV-180       4. Olympus Xenon Ligntsource-CLV-180  &nb....

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....s.4,26,573/-. The adjudicating authority confiscated the goods valued at Rs. 45,90,764/- CIF, under Section 111 (m) of the Customs Act, 1962 and allowed the goods to be redeemed on payment of a fine of Rs. 2,25,000/-. Further, he imposed a penalty of Rs. 1,00,000/- under Section 112 (a) of the Customs Act, 1962. 2. The Revenue was of the view that the redemption fine and penalty imposed are very ....

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....ned to commit this mistake and when it was pointed out to them, they themselves gave the documents like letter of credit which the Revenue is relying on. In the circumstances he prays for leniency, which the Commissioner has shown and there is no reason for increasing the fine and penalty. 5. Considered the submissions on both sides. There is no restriction in the matter of import of medical equi....