2017 (10) TMI 367

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....lant Shri B. Balamurugan, AC (AR) for the Respondent ORDER The facts of the case are that the appellant was intercepted on 10.2.2007 while proceeding to board a flight to Bangkok. On search of his handbag, cut and polished diamonds were recovered from him which were apprised at Rs. 34,76,000/-. In subsequent proceedings initiated against the appellant, the diamonds were confiscated absolu....

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....anikumar submits that they are in appeal only on quantum of redemption fine and penalty. He submits that even as per facts given in show cause notice in para 2 thereof, placed at pages 39 and 40 of the appeal papers, appellant had purchased the diamonds in Mumbai for total value of Rs. 24 lakhs. However, the department has appraised them on the higher side as Rs. 34.76 lakhs. Hence, he submits tha....

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....he case, especially considering the assertion of the learned counsel that the actual value of purchase of diamonds was Rs. 24 lakhs as indicated in the show cause notice and which assertion has not been disproved by the department, we are of the considered opinion that the interests of justice would be met adequately by reducing the redemption fine imposed under section 125 to Rs. 3,50,000/- (Rupe....