9911796707
TMI Blog2004 (12) TMI 712X X X X Extracts X X X X X X X X Extracts X X X X ..... r. The issue involved is a claim of DEPB by the firm Goel Air Shrink Ltd., who were alleged to have overvalued as shown on certain Shipping Bills seeking export of goods on DEPB benefit. The Customs authorities found and were of the view that the valuation declared on those Shipping Bills for the said export were over pitched and excessive. The export was therefore not permitted as claimed. On the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as determined by the assessing officer as against the total value of ₹ 5,12,03,216/- declared by the exporters. 2. I impose penalty of ₹ 25,00,000/- (Rupees twenty five lakhs only) on M/s. Goel Air Shrink (I) Ltd. Sinnar, Nashik Manufacturers Exporters and also penalty of ₹ 25,00,000/- (Rupees twenty five lakhs only) on M/s. Goel Packaging Industries Ltd., under Section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and partner of M/s. Goel Packaging Industries Ltd., and Pradeep Purshottamlal Goel, Director of M/s. Goel Air Shrink (I) Ltd. Sinnar, Nashik and partner of M/s. Goel Packaging Industries Ltd., who have been found directly involved for filing shipping bills with over-invoiced prices and preparing fake purchase documents, transport documents with the help of Shri Vikas Ramkrishna Chaudhary as dealer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... jay Agrawal, Chartered Accountant for opening of bank accounts in respect of non-existing firms with only intention of helping M/s. Goel Air-Shrink (I) Ltd. to defraud the Government. 2. The issue of exports under DEPB scheme (SIC) liability to confiscate under Section 113(1)(c) and penalty under Section 114 of the Customs Act, 1962, is no longer res integra having been settled in favour of as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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