TaxTMI 
TaxTMI 
2008 (10) TMI 192
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.... : P. Karthikeyan, Member (T)].- M/s. Verismo Impex, Chennai, had imported a consignment of used colour monitors and declared a value of US $ 6750 in the Bill of Entry dated 13-8-2001. The original authority enhanced the assessable value to US $ 18708.88 under Rule 8 of CVR following the depreciation method. In the impugned order, the Commissioner (A) found that the original authority had rejected....
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....tems imported without a requisite license, its confiscation under Section 111(d) of the Customs Act, 1962 was sustained by the Commissioner (A). However, he reduced the redemption fine ordered from Rs.1,75,000/- to Rs.1,00,000/-. A penalty of Rs. 20, 000/- imposed in the order in original was affirmed as reasonable. 2. The importer has challenged the impugned order on the basis that invoice value....
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....as a quasi judicial authority. The impugned order was vitiated by arbitraneous. The appellants had not been furnished results of market enquiries relied on. This amounted to violation of natural justice. The redemption fine ordered was excessive and arbitrary and the penalty was not justified. 3. Heard both sides. 4. We have carefully considered the case records and the submissions by both sides....
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..../- by depreciation method. The same was rejected by the Commissioner (A) as unsubstantiated and the value fixed at Rs. 4,03,402/- relying on the certificate of SGS. We do not think that the department was not justified in rejecting the transaction value based on the Chartered Engineer's certificate. As per the valuation by Chartered Engineer, the value declared was very low. Moreover, the importer....