Home Case Index All Cases Customs Customs + AT Customs - 2016 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (9) TMI 1387 - AT - CustomsPenalty u/s 114(i) and 114(iii) of the CA - denial on DEPB Benefit - inflated FOB value - rejection of declared value - Held that: - the Revenue is willing to accept a FOB price up to 50% higher than the AR-4 price without market enquiry. In case of declared FOB value being more 150% it mandates a market enquiry - In the instant case no market enquiry has been conducted. In the absence of any market enquiry the declared FOB value cannot be rejected - Revenue has also not produced any evidence of contemporary exports while the appellants have produced the bank realization certificate for the entire declared FOB - penalties set aside - appeal allowed - decided in favor of appellant.
|