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2011 (6) TMI 623 - AT - CustomsDuty demand - imposition of penalties - redemption fine –Held that:- source of procurement of CD roms were deliberately concealed to enable showing a higher purchase price and exported by declaring highly inflated value to claim undue benefit of DEPB credits. - The goods so exported are to be held liable for confiscation. - However, as they are not available for confiscation , the redemption fine imposed is set aside. Demand of duty confirmed against M/s. Classic ITM for imports made through third parties is set aside. Penalty of Rs. 10 lakhs under Section 114 and Rs.10 lakhs imposed under Section 112 on M/s. Classic ITM are upheld.
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