2013 (10) TMI 725

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..... and requires to be put to some terms of deposit. We also find that the applicants have not pleaded any financial difficulty and accordingly we direct all the four exporting firms to deposit 50% of the amount in each case within a period eight weeks, subject to which pre-deposit of balance amount and penalties imposed upon the applicants shall stand dispensed with and its recovery stay till disposa .....

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..... i R. K. Verma, ld. DR, we find that the duty stands confirmed against the applicants and penalties imposed on them on the allegations and findings that foreign buyers in Russia were non-existence and the entire export was made fraudulently. Further investigations conducted by the Revenue revealed that the applicants were fraudulently receiving remittances for foreign currency through currency decl .....

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