2015 (9) TMI 150

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..... December, 2002 by disallowance of deemed credit which is limited to actual extent of inflation in the value of grey fabric cleared for export under bond raised by the demands against processors, however, setting aside the rest of the duty demand and also setting aside penalties on the processors as well as on M/s. Global Overseas, M/s. Pristine Exports and Shri Ashok Ketan. 2 It is the case of the Revenue that the merchant exporters suppressed the actual value of grey fabrics supplied to the processors by producing fake bills and by not supplying actual purchase bills of the suppliers of grey fabrics and as such declared the value on their own with an intent to overvalue processed fabrics to facilitate excess availment of deemed credit by .....

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..... sel appearing on behalf of the Appellant submits that the learned Tribunal has grossly erred in setting aside the duty for period except December, 2002. The learned Counsel submits that the perusal of the order impugned would reveal that the learned Tribunal has given contradictory findings. The learned Counsel submits that one one hand the learned Tribunal itself in paragraph­8 has held that Dyeing Master has no knowledge of valuation of goods as he was concerned only with the processing of fabric and on the other hand, the learned Tribunal on the basis of same material holds that for the period of December, 2002 the deemed credit which is limited to the actual extent of inflation in the value of grey fabric cleared for export under bo .....

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..... could not have invoked the jurisdiction unless a case of suppression or fraud was made out. As to whether a party has indulged into fraud or suppression is a matter, which is required to be decided on the basis of evidence. No doubt that if the material as placed on record has not been appreciated in correct prospective or has been totally neglected, the same would come in the ambit of perversity  and as such fall in the ambit of question of law. 8 In the present case, there is a specific finding of fact that there is nothing on record which would show that the processors had personal knowledge regarding inflation of valuation of goods. Perusal of the impugned Judgment would also reveal that the learned Tribunal has found that except .....

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