Case Law Details
IND Synergy Ltd Vs Commissioner of Customs (CESTAT Hyderabad)
This appeal has been filed by M/s IND Synergy Ltd., (Raipur) assailing the order-in-original dated 31.07.2020 passed by the Principal Commissioner of Customs Visakhapatnam, the operative part of which is as follows:
(a) “I deny the benefit of Notification No. 097/2004-Customs dated 17.09.2004 to the capital goods valued at Rs 71,92,86,693/- imported against said 12 bills of Entry under EPCG Authorization No. 0330017266 dated 28.08.2007, for non-compliance of the conditions/provisions stipulated in the Notification No. 097/2004-Customs dated 17.09.2004 and conditioned attached to the subject EPCG Authorization issued under the Chapter 5 of the Foreign Trade Policy 200409.
(b) Consequently, I confirm the demand of differential duty of Rs 18,48,50,711/- (Rupees Eighteen Crore Forty Eight Lakh Fifty Thousand Seven Hundred and Eleven Only) together with applicable interest under the provisions of the Section 28(1) and 28 AA of the Customs Act 1962, respectively red with the Notification No. 097/2004-Customs dated 17.09.2004
(c) I order for confiscation of the subject capital goods totally valued at Rs 71,92,86,693/- (Rupees Seventy One crore Ninety Two lakh Eighty Six Thousand Six Hundred and Ninety three only) (Assessable value) under section 111(0) of the Customs Act 1962. I impose redemption fine of Rs 7,00,00,000/- (Rupees Seven Crore Only)Under section 125 of the Customs Act 1962, in lieu of confiscation.
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