ORDER
Shri S.S. Sekhon
1. This appeal is filed by the appellant at Bangalore as he has his residence in Kerala, falling within the jurisdiction of this Bench. The Appeal is taken up along with retention and stay applications, since it can be retained heard and disposed by this Bench vide Hon’ble President CEGAT’s Public Notice No. 01 of 2001 dt 13.2.2001. Miscellaneous application allowed.
2. The stay application is taken up along with the appeal and is disposed off by this order finally, after waiver of predeposit and consent of both sides, after hearing both sides, since we find that the matter lies in a narrow compass.
3. The Commissioner, had ordered the confiscation of a car imported by the appellant. The same was sought to be cleared at Mumbai, Customs House. However, the appellant found that the duty assessed was beyond his capacity, therefore he requested for deletion of the condition of “No SALE” as required by the Import Trade Centre Notification No.P No. 3 (12 E-2000)/1997-2002 dt 31.3.2000 para 2 (a). This was considered to be a breach of the Section 3 of Foreign Trade (Development and Regulation ) Act 1962 and an offence under Section 111 (d) of the Customs Act 1962 by the Commissioner. The Commissioner determined the value under Section 14 of the Customs Act to be Rs 12,66,772/- and ordered the confiscation of the car under Section 111 (d) of the Customs Act 1962, but gave an option of redemption on payment of Rs 10 lakhs only. The order does not give any finding as to how the redemption fine has been arived at. Section 125 of the Customs Act 1962 mandates that the “Market Price” of the goods under import has to be determined; only thereafter the redemption fine as per the formula provided therein can be determined. Since this has not been done, we cannot uphold the order. The same is therefore set aside and matter remanded back for denovo adjudication. Since goods are under clearance, we direct the proceedings to be taken up by the Commissioner and completed as soon as possible. Appeal is allowed as remanded for Denovo adjudication.
