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2012 (12) TMI 590 - BOMBAY HIGH COURTRemittance out of India without having imported any goods on the basis of the forged bogus documents. - allegation based on statement - held that:- the Adjudicating authority has in her order very clearly rerecorded as a fact that there is no retraction on record. In case, there has been any retraction the appellant would have challenged the same and produced the retraction before the Tribunal or called upon the respondents to produce the retraction which according to him was in possession of the respondent. However, no such exercise or even an attempt to the same appears to have been carried out before the Tribunal. Order of tribunal directing the appellant to pre deposit 50% of the penalty amount i.e. Rs. 25 lacs out of Rs. 50 lacs imposed by the Adjudicating authority sustained.
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