2017 (3) TMI 1093

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....ty amounting to Rs. 48,02,438/- along with interest. The impugned order also confirms the Central Excise duty of Rs. 14,53,970/- and imposes penalty equivalent to Central Excise duty confirmed against the appellant assessee, M/s Krystal Stone Export Ltd. The impugned order further imposes a penalty of Rs. 25,00,000 under Rule 26 Section 102 of Customs Act on the assessee appellant and the penalty of Rs. 2,00,000/- on the appellant, Shri B.D. Agarwal, Director in the assessee unit. The impugned order also confiscates the imported goods namely Multi Blade Frame Saw Machine under Section 111(o) of the Customs Act, 1962 and gives option of redemption on payment of fine of Rs. 20,00,000/- under Section 125 (1) of the Customs Act, 1962. 2. The....

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....the same could not be put to use due to non-supply of supplementing machine by the foreign supplier on account of dispute of the Appellant with its bankers in India. Therefore, the failure of the appellant to operate the Frame Saw Machine within a period of one year was neither intentional nor deliberate and was solely due to the reason that the supplementary machines were not imported due to lackadaisical and callousness of the bank. vi. In terms of Customs Notification No. 53/97 dated 03.06.1997 read with Section 61 of the Customs Act, in case an importer fails to install the machine within a period of one year from the date of import, then such person shall have to seek extension of the time for installation of the same from the Commi....