TaxTMI 
TaxTMI 
2022 (2) TMI 469
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....ppeal against the impugned order wherein the Ld. Commissioner (Appeal) has reduced the redemption fine from Rs. 17,00,000/- to Rs. 1,00,000/- and penalty of Rs. 1 lakh has been set aside. 2. The facts of the case are that the respondent filed one Bill of Entry for import of goods declaring the same as 'glass beads unfinished' and classified the said goods under Tariff Heading No. 70181020. The we....
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....der was challenged by the appellant before the Ld. Commissioner (Appeal) who uphold the charge of misdeclaration of description and value but held that there is no misdeclaration of quantity and further uphold the enhanced value 82,23,829/- but reduced the redemption fine to Rs. 1,00,000/- and penalty was dropped holding that there is no recording of the findings for imposing penalty under Section....
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....nalty against the appellant. To support his contentions, he relied on the decision of the Hon'ble Apex Court in the case of Commissioner of Cus. (Preventive), Jamnagar Vs. Essar Oil Ltd. reported 2015 (325) E.L.T. 5 (S.C.) to say that in that case also the redemption fine was reduced to Rs. 1,00,000/- but the Hon'ble Apex Court held that it should be reduced to 50% of Rs. 1.2cr. imposed by the low....
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....d the differential duty of Rs. 18,00,000/- (approx.) therefore, considering the duty paid by the appellant and margin of profit, the Ld. Commissioner (Appeal) has rightly reduced the redemption fine from Rs. 17,00,000/- to 1,00,000/-. The decision relied upon by the Ld. AR with regard to reduction of redemption fine in the case of Essar Oil Ltd. (Supra), there was misdeclaration of quantity, descr....