2016 (12) TMI 1025

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....5/2016<br>Customs<br>SHRI H.K. THAKUR, MEMBER (TECHNICAL) Shri K.C. Jena, ADC(AR) for the Revenue NONE for the Respondent (s) Per Shri H.K. Thakur. These Appeals have been filed by the Revenue against Order-in-Original No.KOL/CUS/PORT/25/2008 dated 30.05.2008 passed by the Commissioner of Customs(Port), Strand Road, Customs House, Kolkata as Adjudicating authority. Under this Order-in-....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....amination the consignments were found to be of Russian/Japanese/Police/Romanian origin and were seized by the department. That before issue of show cause notice M/s.Kumar Trading Co.Ltd. (supplier) filed a Writ Petition No.1650 of 1998 in Calcutta High Court seeking permission for re-export of the seized goods. That Hon'ble Calcutta High Court (Single Bench) vide Order dated 01.02.1999, inter alia....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the adjudication proceedings only Rs. 1.00 Lakh redemption fine was imposed in lieu of the confiscation. Learned AR argued that redemption fine imposed is very less. It is the case of the Revenue that the declared value of the imported consignments was Rs. 24,13,642/- whereas an amount of Rs. 1,01,05,990/- has been realized by the sale of the seized goods. That even if the sale proceeds of the se....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nt estimated the market value of Bearings to be Rs. 1,93,09,139/-. At the time of disposal of the said goods as per the direction of Hon'ble Apex Court an amount of Rs. 1,01,05,990/- was realized and deposited with State Bank of India, Main Branch, Kolkata. Even if the sale proceeds of Rs. 1,01,05,990/- is taken to be the market value of the seized goods then also the margin of profit will be more....