2014 (8) TMI 127

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....p;                                                              For the Respondent : Shri K.P. Mu....

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....of Customs (Sea-Imports) denied the benefit of Exemption No.21/2002 dt.1.3.2000 (Sl.No.207) for import of "Electrical Steel Sheets in Coils-Seconds". He confiscated the goods and allowed redemption on payment of a fine of Rs. 5 lakhs and imposed a penalty of Rs. 2,50,000/-. On a perusal of the order dt. 3.8.2006 of the Hon'ble Madras High Court in WP No. 22138 of 2006, we find that the appella....

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.... benefit of concessional rate of duty. On examination of goods, it was found to be seconds. Thus, there is no dispute of misdeclaration of goods and confiscation under Section 111 (m) of the Customs Act, 1962 is justified. The relevant portion of the finding of the Adjudicating Authority is reproduced below :-               "I obs....

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....as varied from US$ 1061/MT to US$ 1244/MT averaging above US$ 1145/MT during the month of March 2004, the month of the present import s evident from the Computer Print Out of list and details of transacted prices of imports at various Indian Ports as compiled by the Directorate General of Valuation, Customs, Mumbai. As against that, the declared price of the imported goods is only about US$ 990 wh....