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2018 (10) TMI 568 - CESTAT MUMBAIMisdeclaration of export goods - export of man-made fabrics under rebate/DEPB scheme - Confiscation - rejection of declared value - penalty u/s 114 of CA, 1962 - Held that:- For entertaining mis-declaration of value, rejection of the declared value deducible from various circumstantial evidence, is making one pillar - A single pillar is unable to support a superstructure much beyond the top of its surface area; the stability of a structure is possible only with the support of additional pillars. In all matters pertaining to valuation, it is, therefore, required that rejection of declared value should necessarily be followed by determination of an assessable value that has the approval of rules framed for the purpose. Neither does the show cause notice propose nor does the impugned order consummate the valuation exercise. In the absence of re-determination of value, goods cannot be said to have been mis-declared warranting imposition of penalties under section 114 on various individuals, whatever their linkage with the goods may be. Impugned order do not sustain - appeal allowed - decided in favor of appellant.
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