2014 (6) TMI 972

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.... ORDER H. K. Thakur (Technical Member) 1. This appeal has been filed by the appellant with respect to OIO No.15/Commr/DRI/2012, dt.15.10.12 passed by Commissioner of Customs Ahmedabad. Under this OIO adjudicating authority has absolutely confiscated 10,510.60 Carats of rough diamonds valued at Rs. 4,24,34,182/- under Section 111 (m) of the Customs Act, 1962. A penalty of Rs. 50 lakhs has ....

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....ting authority and it was requested that valuation should be done by GJEPC Valuation Committee. Appellant relied upon the judgment of CESTAT Mumbai in the case of Sagar Impex Vs Commissioner of Customs (Airport) Mumbai [2005 (06) LCX 215 = 2006 (193) ELT 0289 (Tri-Mum)] where under similar circumstances, case was remanded to the adjudicating authority for getting the re-valuation of the diamonds d....

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..../confiscated rough diamonds are the same what have been imported by the appellant under proper Bills of Entry from time to time. On valuation, it has been argued by the appellant that right through the adjudication the aspect of over-valuation of the rough diamonds has been contested. It was his case that valuation of the rough diamonds involved in the proceedings should be done from an expert pan....

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....As per Para 50(iv) of the OIO dt.15.10.2012 appellant has taken up during the adjudication proceedings that rough diamonds are over-valued and that the same should be re-valued by GJEPC Valuation Committee. The findings of the adjudicating authority in Para 59 of the OIO dt.15.10.2012 on valuation of the rough diamonds may not be appropriate in view of the case-law relied upon by the appellant. Se....