2016 (9) TMI 124

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....ss 0.65 at 1.35 USD/Meter (CIF) and of thickness 1.2 MM at 2.55 USD/Meter (CIF) under Rule 5 of the Customs Valuation (Determination of Value of Imported Goods) Rules, 2007 read with Section 14 of the Customs Act, 1962. 2.  I order for confiscation of goods under Section 111(m) of the Customs Act, 1962. However, I give an option to the importer to redeem the same on payment of redemption fine of Rs. 3,50,000/- (Rupees three lac and fifty thousand only) under Section 125 of the Customs Act, 1962. 3.  I also impose a penalty of Rs. 70,000/- (Rupees seventy thousand only) on the importer under Section 112(a)(ii) of the Customs Act, 1962." 2. The facts of the case are that the appellant declared the thickness of P....

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....value cannot be enhanced merely on the basis of NIDB data. As the value of the goods, varies widely on the basis of quality, size etc. and that special circumstances for rejecting transaction value have been prescribed in Customs Valuation (Determination of Value of Imported Goods), Rules and Supreme Court judgement in the case of CC Vs. Aggarwal Industries Ltd. - 2011 (272) ELT 641 (SC). 4.  Ld. DR on the other hand stated that the fine and penalty are in order as it is a clear case of mis-declaration. 5.  We have considered the contentions of both sides. It is evident that thickness of the impugned goods was found to be more than that declared and therefore rejection of transaction value is in conformity with Rule 12 of Cu....