2005 (1) TMI 241

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....er (T)]. - Two consignments of refined Soyabean Oil were imported at Agartala from Bangladesh by the Respondents and the proforma invoice dated 24-9-2003 issued by exporter of Bangladesh showing C & F value of 17100 kgs. of such oil as US $ 9107/- i.e. @ Rs. 24.50 per Kg. and for the other consignments of 4446 Kgs. a similar valuation was claimed. Since the Custom Authorities were of the opinion t....

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....he assessee. The security deposit of Rs. 54,000.00 was ordered to be appropriated towards the amounts of differential duty, fine and penalty, by the Adjudicating Authority. The Assessee filed an appeal before the Commissioner (Appeals) relying upon the decisions in the case of Mirah Exports Pvt. Ltd. reported in 1998 (98) E.L.T. 3 (S.C.) and in the case of Eicher Tractors Ltd. - 2000 (122) E.L.T. ....

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....t Commissioner and find no infirmity in arriving at the assessable value of Rs. 5,21,645.76 by the Assistant Commissioner. (b)     However, we find no justification in imposing a penalty under Section 112(ii) or find no reason for confiscation of the goods in question under Section 111(m) of the C.A., 62 as ordered by the Assistant Commissioner. Since the goods were allowed ....