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2011 (6) TMI 522 - HC - CustomsNon-fulfilment of export obligation and breach of condition of value addition to the tune of 40% - Held that:- mere non-fulfillment of export obligation and not achieving value addition to the tune of 40% as per the conditions of the letter of approval would not fall under any of the clauses of Section 4-I of the Imports & Exports (Control) Act, 1947. It cannot be concluded that there is any misutilization or misdeclaration on the part of the petitioners. petitioners are not liable to pay penalty. petition, therefore, deserves to be allowed.
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