2017 (3) TMI 830

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....per: Sulekha Beevi, C.S.] 1. The above is filed against the redemption fine and penalty imposed. 2. The appellants imported second hand Multi-Functional Device (MFD) Copiers cum printers on 23.01.2013 by declaring the value as Rs. 35,50,593/-. Basing upon the Chartered Engineer Certificate, the department assessed the value and enhances the same as Rs. 59,95,260/-. As the import was made wit....

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....ough the adjudicating authority has stated that a market enquiry was conducted for ascertaining the margin of profit no such data was given to the appellant. That the margin of profit of 37.8 taken by the authority below is highly high and excessive. He pleaded that the penalty and redemption fine imposed is therefore higher than 25% of the enhanced value and may be reduced. 4. Against this the....