2005 (9) TMI 189

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....Entry dated 3-3-99 for clearance of 99 pieces of Olympus cameras of different models imported from Singapore. The value of the goods was declared as US $ 3425 C&F and, on this basis, the Bill of Entry was assessed to duty of Rs. 93,099/- and the goods were cleared for home consumption. Subsequent investigations conducted by the Customs authorities resulted in the discovery of higher value for the ....

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....ble) with redemption fine of Rs. 27,000/- and also imposed redemption fine of Rs. 3,30,000/- in lieu of confiscation of the remaining cameras (not available for confiscation). The order of confiscation of the 10 cameras with redemption fine of Rs. 27,000/- is not contested. However, appellants have challenged the fine of Rs. 3.30 lakhs imposed on them in lieu of the cameras which were not availabl....