CESTAT Upholds Reclassification of Copper Bus Bars Under CTI 7407 10 30, Reduces Penalties While Maintaining Confiscation.

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....CESTAT upheld reclassification of imported high conductivity copper bus bars from CTI 7407 21 20 to CTI 7407 10 30, resulting in denial of FTA benefits under N/N. 46/2011-Customs. The Tribunal found confiscation justified u/s 111(m) due to incorrect tariff classification and improper FTA benefit claims. While maintaining liability for confiscation and penalties, the Tribunal reduced redemption fine from Rs.2,00,000/- to Rs.50,000/- u/s 125 and penalty from Rs.50,000/- to Rs.10,000/- u/s 112(a), considering appellants had described goods as per invoice and origin certificates. Appeal partially allowed with modified penalties.....