2014 (6) TMI 848

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..... d both sides. 2. Applicant M/s. Twenty First Century Iron & Steel Ltd. filed application for waiver of pre-deposit of duty of Rs.11,18,700/- and applicant Shri Gaurav Goel filed application for waiver of pre-deposit of penalty of Rs.2,00,000/- imposed under Section 114(AA) of the Customs Act, 1962. The applicant made export of Iron Ore Fine and Lumps and declared the freight at the rate of US$ 45 .....

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..... the US$ 27 PMT. The adjudicating authority in para 18.3 also gave a finding that for the purpose of receiving proceeds for goods the applicant made parallel agreement showing lower freight rate. The applicants received the remittance as per the actual agreement according to which the freight is actually US$ 27 PMT. In these circumstances, prima facie the applicant had not made a case for waiver of .....

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