2017 (1) TMI 407

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....rder The Revenue's appeal is on the ground that the adjudicating authority against the profit margin of Rs. 25.02 lakhs imposed a redemption fine only to the tune of Rs. 4 lakhs. In the matter of import of Rough Marble Blocks there was an allegation by the Revenue that the importer has substantially undervalued the imported marble. The adjudicating authority imposed Rs. 4 lakhs, redemption fine....

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.... that the margin of profit of Rs. 25.02 should be neutralized by imposing penalty of Rs. 21 lakhs and redemption fine of Rs. 4lakhs. Therefore the Revenue's appeal does not survive. 4. I have carefully considered the submissions made by both the sides, I find that the Revenue's appeal is only on the ground that the Commissioner while imposing redemption fine of Rs. 4 lakhs has not given justifi....

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....actions do not deserve any leniency and deserve severe punitive action. It would only be appropriate and just to levy such redemption fine and penalty so as to wipe out the margin of profit. The market price of the marble blocks at the relevant time was Rs. 25,000/-PMT. A margin of Rs. 25.02 lakhs approximately was available to the importer even after payment of duty at enhanced value and allowanc....