TaxTMI 
TaxTMI 
2000 (2) TMI 145
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.... of 6 Nos. of second hand Rubber Sole Direct Vulcanizing Presses and 1 number used pre-heater for vulcanizing presses. The clearance of these goods were sought from the Madras Customs vide Bill of Entry No. 226909 dated 8-7-1999. At the time of import second hand machinery was not permitted to be imported under OGL. Appellant, therefore, required a specific import licence. On account of their inab....
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.... payment of fine of Rs. 2.75 lakhs. He also imposed a penalty of Rs. 30,000/- on the appellant. Assessment of the goods to Customs Duty at a value of Rs. 13,21,697/- was also ordered as against the declared value of Rs. 2,11,476/-. 2. Arguing the appeal today the ld. representative of the appellant has submitted that the appellant had applied to the DGFT before import for issue of a licence for t....
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....E, Madras reported in 1996 (12) CXLT (Trib) Cus-18. 3. The ld. DR submitted that the confiscation of the goods was justified at the time of their import as the appellant failed to produce the import licence. The valuation also could not be faulted as the price indicated in the Chartered Engineer's Certificate was taken as the basis. He also submitted that the valuation has been done on a sound pr....
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.... just and sufficient. Accordingly, in the peculiar facts of the case, an additional depreciation of 20% is allowed and the value is fixed at $ 1000 FOB for each machine. 5. In the light of the discussions above, it is hereby ordered that the goods shall be re-assessed at the FOB value of $ 1000 per machine and consequential refund, if any, shall be allowed to the appellant. The confiscation of th....