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TMI Blog2009 (5) TMI 851X X X X Extracts X X X X X X X X Extracts X X X X ..... d from Customs in spite of payments having already been made outside India. It was found that M/s. Unicorp Industries Ltd. and M/s. Advance Computers Software Pvt. Ltd. were engaged in importing software and hardware (computer parts) from M/s. Freesia Trading Pvt. Ltd., Singapore, and not clearing the same from Customs. All 47 such consignments imported by the above three companies comprised of computer parts, computer peripherals and software. Bills of entry were found to have been filed, in some cases, with a declared FOB value of 25 crores. Shri Arun Sogani, Managing Director of M/s. Unicorp Industries Ltd., was managing all the three companies either as Managing Director or Director or Chief Executive. Statements of Shri V.P. Gupta, C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Ltd.; penalty of Rs. 5,00,000/- on M/s. Advance Computers and Software Pvt. Ltd.; and penalties of Rs. 10,00,000/- each of Shri B.B. Gupta, Shri V.P. Gupta, Shri Madan Agarwal and Shri Ashok Sanghi; penalty of Rs. 5,00,000/- on M/s. Air Impex Cargo Agency (CHA); and penalty of Rs. 30,00,000/- on Shri Arun Sogani, Managing Director of M/s. Unicorp Industries Ltd. The appeals before the Tribunal have been filed by two Directors of M/s. Unicorp Industries Ltd. as well as its Company Secretary and by the CHA. 2. I have heard both sides Penalty has been imposed on Shri B.B. Gupta, who was looking after the work relating to import, such as, filing of bill of entry, clearance from Customs, procurement/purchases from the foreign suppliers in re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it Jain who also managing the day to day affairs of Freesia Trading Co. - the goods imported from Singapore were generally traded back to the same companies abroad; - M/s. Unicorp Overseas Ltd. at 242-243, Ph-IV, Udyog Vihar, Gurgaon, was floated for servicing the computers supplied by M/s. Unicorp Industries Ltd. as well as from other suppliers; - the clearance of the imported goods from customs was done against yellow bills of entry for warehousing, the goods were warehoused and then re-exported back to Unicorp Indus(S) Pte. Ltd. to M/s. Freesia Trading Pte. Ltd. by adding a margin of 8-10% to its values; - goods imported by them and not cleared from Customs were meant for export only; - as per his knowledge there coul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ers for export for Unicorp Industries Ltd., Delhi; - the re-imported software of security system was worth 20 to 50 thousands, rupees per piece in India market; - during the visit to Singapore he used to interact with Sh. Amit Jain both for M/s. Unicorp Industries (S) Pvt. Ltd. and Freesia Trading Pvt. Ltd.; - the major consideration for exporting to its own subsidiary in Singapore was the bank finances. There is nothing in his statement to impute knowledge of undervaluation of imported computer peripherals etc. by M/s. Unicorp Industries Ltd. The evidence on record does not bring out any commission or omission on his part which would render the imported goods liable to confiscation under Section 111 of the Customs Act, 1962, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y act so as to render imported goods liable to confiscation, penalty cannot be sustained and I accordingly set aside the same. 5. Penalty has been imposed on the CHA on the ground that he abetted the importers to obtain the loan by giving original Bills of Entry to the importers who used the same for parking funds abroad. The finding of the Commissioner against the CHA is contained in para 43 of the impugned order wherein he has relied upon the statement of Shri Raj Kumar, Partner of CHA, that all pending bills of entry were with the company and the bills of entry were taken back by the importer on the pretext that he had to take loan for demurrage and other charges from the bank on the basis of original documents, whereas the original d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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