2015 (12) TMI 407

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.... declared as 'M.S. TMPB DEFECTIVE COILS' vide Bill of Entry dated 2/9/2013 at JNCH, Nhavasheva Port. The net weight was declared as 108.708 MTs and the declared unit price as USD 578.852 PMT CIF, the total assessable value as per declaration was Rs. 41,53,332/- and duty payable was computed at Rs. 11,98,313/-. The goods were examined under first check with specific examination order - to state whether the goods are restricted or not in terms of the licensing Note to Chapter 72 of ITC (HSN) of the Foreign Trade Policy 200914. On examination the goods were found as declared, except that the goods were restricted item in terms of the Foreign Trade Policy. The Revenue felt that the same cannot be imported at JNCH without valid import licence. H....

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.... accepted the mistake committed by them and also the importer have not produced any valid import licence and hence the impugned goods were held liable for confiscation under Section 111(d) of the Act and the same was held redeemable on payment of redemption fine of Rs. 10,40,000/- and further penalty, under Section 112(a) of the Act, was imposed for an amount of Rs. 4,20,000/-. 4. Being aggrieved the appellant preferred an appeal before the Commissioner (Appeals), who vide the impugned order has been pleased to allow the appeal in part and reduced the redemption fine to Rs. 4,20,000/- and also reduced the penalty under Section 112(a) to Rs. 50,000/-. The learned Commissioner (Appeals) also held that penalty and fine can be imposed on the....