2019 (9) TMI 397

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....Appellant : Mr.Hari Radhakrishnan For the Respondent : Mr.T.Pramod Kumar Chopda Senior Standing Counsel JUDGMENT Dr.VINEET KOTHARI, J. The present Appeal has been filed by the Assessee, M/s.Leo Fasteners against the order of CESTAT dated 24.3.2017, by which the learned Tribunal dismissed the Appeal of the Assessee under which the Assessee had challenged the imposition of penalty under ....

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....ned in para 2 of his order what was the case before him and to appreciate his understanding, the said para is reproduced:- "The subject bill of entry was presented for assessment alongwith invoice No.TY80700068 dated 12.7.08, packing list and mill certificate No.08071204 dated 12.7.2008 issued by the foreign supplier M/s.Tycoons World Wide Group (Thailand) Public Co. Ltd. Thailand. The re....

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....n. 6. There is no material on record to show that the redemption fine of Rs. 5,75,000/- imposed was, by any means, unreasonable or excessive when value to the extent is considered to be Rs. 57,34,140/- for which duty was levied. Therefore, redemption fine remains untouched and that is upheld. 7. So far as imposition of penalty is concerned, misdeclaration follows the consequence ....

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....) and on account of such alleged mis- declaration by the Assessee, penalty and redemption fine in question was imposed, which has been upheld by the learned Tribunal. He further submitted that the Assessee had no mens rea in this regard and therefore, the imposition of penalty and redemption fine deserve to be set aside. 4. Per contra, the learned Senior Standing Counsel for the Revenue, Mr.Pra....