2016 (5) TMI 915

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....vocate) For the Respondent : Mr. Ranjan Khanna (AR) ORDER PER R. K. SINGH: Appeal has been filed against order-in-appeal dated 18.07.2012 which upheld the order-in-original except that it reduced the redemption fine from Rs. 5,00,000/- to Rs. 2,00,000/- and penalty from Rs. 2,50,000/- to Rs. 90,000/-. The facts of the case are as under: 2. The appellant had imported Random Polished ....

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....pped on board on 11.10.2011 as is evident from bill of lading in respect of the said goods and on that date also the impugned goods satisfied the requirement of the CIF value being more than 60 US Dollars per SQM as per the notified exchange rate vide Customs Notification No. 62/2011-Cus (N.T.) dated 26.08.2011. It is only at the time of actual arrival of goods that as per the exchange rate appli....

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....te (on dated 28.09.2011), even on the date of shipment the goods were in violation of the Import Policy and therefore the impugned order is legal and proper. 4. We have considered the contentions of both sides. 5. We find that although the quotation for the goods is dated 10.09.2011, the fact remains that even on the date of "shipped on board" (11.10.2011), the impugned goods "CIF" value wou....

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....entation and the goods were in violation of Exim Policy only marginally as the CIF value worked out to be only marginally less than US $ 60 per SQM and that too due to monthly exchange rate changes notified vide Customs Notification after the appellant obtained quotation for the goods on 10.09.2011. Therefore, in all fairness and in the interest of justice, considerable leniency is called for in a....