( 1 ) ASSESSEE is before us in this appeal challenging the order dtd 20-6-2005 passed by the cestat, South Zonal Bench, Bangalore.

( 2 ) FACTS in brief are as under; appellant imported 2160 pieces of used computer monitors from WRC International, USA at a price of US $ 4 per piece through Inland Container Depot, Sanath Nagar, Hyderabad-18 and filed bill of entry declaring a total value of import as Rs. 5,04,569/- at Rs. 233. 60 per monitor supported by invoice No. 100901-1 dtd 8-11-2001 of the aforesaid suppliers of goods. The appellant imported the said monitors under the bonafide belief that the second hand computer monitors falls under the definition of capital goods and further are permitted for import freely if they are less than 10 years old, as per the import policy and therefore there was no need for an import licence. However the customs authorities took the view that as per EXIM policy 1997-2002, the second hand goods imported are consumer goods and are restricted items requiring licence for imports. The goods were examined on first appraisement basis and the value of the goods was apprised at Rs. 600/- per monitor and the goods were not released. Since the appellant had

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