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2008 (10) TMI 382 - CESTAT, NEW DELHIStay petitions - valuation of imported consignments - appellant undervalued the consignments by declaring the value as 1$ PMT as against 3-5 $ PMT and that sold the imported goods in the local market at prices ranging from Rs. 210 to Rs. 230 per meter whereas the sale value was shown as Rs. 80 to Rs. 115, that they manipulated accounts to hide their sales transactions; their local sales invoices indicated quantity strangely - import value and the sale value have not been fully and correctly reflected in their invoices/book of accounts, and there have been collection in cash amounts in excess of invoices, their books are not at all reliable as indicator of their actual financial positions, appellant companies have not made out a case for total waiver of duties demanded from them, there is no justification for total waiver of penalties imposed
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