2015 (12) TMI 319

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....have been disposed of. The issue relates to the import of Christmas Lights, LED Bulbs, Decoration Lamps, etc. The allegations against the respondents were that they had made this importation contrary to the provisions of Customs Act, 1962 as also the Foreign Trade Development & Regulation Act, 1992. It is also the case that there was misuse of the IE Code. A common show cause notice dated 09.01.2015 was issued by the Additional Director of Revenue Intelligence, Delhi Zonal Unit, Lodhi Road, New Delhi. 2. At that stage, the respondents moved the aforesaid applications for settlement before the Settlement Commission. The settlement applications were allowed to be proceeded with and, ultimately, resulted in the impugned final order. The Settl....

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.... 127C (5) of the Act on the following terms and conditions: Assessable Value: The assessable value of the imported goods is re-determined as Rs. 59,33,372/- in terms of Section 14 of the Act read with Rule 9 of the Custom Valuation Rules. Customs Duty: The Customs Duty in this case is settled at Rs. 17,06,406/- (Rupees seventeen lakh six thousand four hundred six only) against the applicant. An amount of Rs. 17,06,406/- deposited by the applicant is ordered to be appropriated towards the settled amount of duty. Nothing further remains to be paid on this Count. Fine: A fine of Rs. 5,00,000/-( Rupees five lakh only) is imposed in lieu of confiscation of the seized goods. Penalty: Taking into account the facts and circumstance of th....