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TMI Blog2015 (10) TMI 193X X X X Extracts X X X X X X X X Extracts X X X X ..... lant had funded consignments in absence of any other evidence – In view of said reasons, it is appropriate to remand matter to adjudicating authority for fresh adjudication by following principles of natural justice – Appeal disposed of. - Appeal Nos. C/684/2008-Mum. , C/713/2008-Mum. & C/744/2008-Mum. - - - Dated:- 8-1-2015 - Mr. Anil Choudhary, Member (Judicial) and Mr. P.S. Pruthi, Member (Technical), JJ. For the Petitioner : Shri J.C. Patel,Advocate, Shri H.R. Shetty, Advocate, Shri Mayur Shroff, Advocate For the Respondent : Shri Ahibaran, Addl. Commr. (A.R) ORDER Per: P.S. Pruthi The appellants are in appeal against the impugned order passed by Commissioner imposing penalty on them under Section 112(a) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns have been considered by the Commissioner in his adjudication order. Further, at para 31(viii) of the Orders of Commissioner has come to a conclusion that the appellant had not merely diverted the goods sold on High Sea Sale Basis but also funded/financed the transaction. The Ld. Counsel drew our attention to the statements given by him which also appear at para 20 and para 44 of the show cause notice and claims that these statements do not at all indicate that the funding was done by them In fact, they have clearly stated in their statements that the funding was not done by them. As regards personal hearing, the Ld. Counsel said that they appeared before Commissioner Nhava Sheva in 2005, thereafter they appeared before the Commissioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Spectrum Fabrics was Shri Jatin Pancholi; that he did not know Shri Kirit Chotalal Modi or Shri Narendra Poonamchand Shah; that he had sold the PFY imported vide Invoice Nos. 320205782 and 320205783 both dtd. 19.02.2002 of M/s. Hualon Corporation (M) Sdn. Bhd., Malaysia; that under these two Invoices total 48048 Kgs.(24024 Kgs. In one container) of PFY was imported; that for these goods they had entered into a High Seas Sale Agreement with M/s. Spectrum Fabrics on 02.03.2002 and M/s. Spectrum Fabrics had filed Bills of Entry Nos. 542247 and 542248 both dtd. 03.03.2002; that for this sale, M/s. Spectrum Fabrics had given two cheques Nos. 346851 and 346852 each of ₹ 1050652/- of IndusInd Bank Ltd., Ring Road, Surat, which he had depos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... statement he stated interalia, that after going through his statement dt.21.5.2004 he confirmed that whatever stated in that statement was true and correct; that he also confirmed that i.e. had sold entire quantities of two Bill of Ladings sold to M/s. Spectrum Fabrics, Surat on High Seas Sale basis, that he managed to contact the person who was interested in purchasing of duty free imported goods under the two Bill of Ladings Nos. HDMU-PKID 0506685 dt. 22.02.2002 and HDMU-PKID 0506684 dt.22.02.2002; that after contacting the person interested, he managed to deliver the said goods to him and after that he had received payments from the said purchasers, which he used to hand over to Shri Jatin Pancholi of M/s. Spectrum Fabrics, Surat; that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e same he stated that he had sold the entire quantities of goods imported vide above said two Bill of Ladings and diverted the same in local/open market but, as regards the finance/funding he had stated that he did not know anything about it and he had not funded/financed the said two transactions; that he had only received the payments from the purchaser of the goods diverted in the open/local market and handed over the same to Shri Jatin Pancholi of M/s. Spectrum Fabrics, which Shri Jatin Pancholi had in turn deposited into the Bank Accounts of M/s. Spectrum Fabrics. On being asked he stated that he was aware that the act of selling duty free goods into the local/open market on cash basis without payment of appropria ..... X X X X Extracts X X X X X X X X Extracts X X X X
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