9911796707
TMI Blog2017 (6) TMI 259X X X X Extracts X X X X X X X X Extracts X X X X ..... either of these facts have been cited in the adjudication proceedings against the appellant. The value of the export goods have been re-determined essentially on the basis of the revised cost sheet which the appellants were not contesting the reduction in value - we find no reason to interfere either with the reduction in the declared value or in the restriction imposed on the drawback. In the present case, there are no valid reasons for rejection of the transaction value. There is no justification for confiscation of the export goods as also imposition of penalties u/s 114 and Section 114 (AA). Appeal allowed - decided partly in favor of appellant. X X X X Extracts X X X X X X X X Extracts X X X X ..... goods assessed as per this cost sheet even though the foreign buyer has already paid the amount declared in the export documents. 4. Adjudication proceedings were undertaken by the Revenue against the appellants which culminated in the impugned order as under: i) Value of export goods was re-determined at ₹ 1,50,87,600/- as against the original declared value of ₹ 1,93,57,006/-. ii) The drawback amount payable on the consignment was restricted to ₹ 15,58,148/- instead of ₹ 19,97,931/-. The export goods were also confiscated and allowed for redemption with a Redemption fine of ₹ 40 lakhs. iii) Penalty of ₹ 3 lakhs imposed on the exporter and ₹ 2 lakhs on Shri Nikhil Mahajan, Director. 5. When t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... selves have admitted over valuation, the confiscation of export goods is justified as also the imposition of penalties. 9. From the facts of the case, as summarized above, it is evident that goods entered for export were suspected by Revenue to be overvalued. The enquiries done by Revenue from two sources indicated overvaluation in the range of about 35%. The Chartered Engineer's opinion obtained by the Revenue however, indicated a figure of about 45% over valuation. However, it is seen that neither of these facts have been cited in the adjudication proceedings against the appellant. The value of the export goods have been re-determined essentially on the basis of the revised cost sheet submitted by Shri Rajesh Kumar, Director of the appel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the said invoice so received, it was held as follows: "3. A perusal of the judgment of the CESTAT shows that the entire material placed before it has been discussed and on that basis, a finding of fact is arrived at to the extent that the allegations of flow back of the remittances by way of Hawala could not be proved by the Department. It is further recorded by the CESTAT that the invoices etc. which were raised of particular amounts were duly checked by the Department at the time when the exports were being made. However, the entire amount as reflected in the said invoices was received by the respondents. 4. In view of the aforesaid finding of fact and in the absence of any evidence to show that the money was remitted by way of Hawala ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
