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2014 (6) TMI 848 - AT - CustomsWaiver of pre deposit - export of Iron Ore Fine and Lumps - Valuation - Addition of freight to the assessable value to export of goods - Held that:- As per the revenue the freight has been inflated to suppress the value of exported goods. This is evident from the evidence on record i.e. the chartered party agreement the actual freight rate is at the US$ 27 PMT. The adjudicating authority in para 18.3 also gave a finding that for the purpose of receiving proceeds for goods the applicant made parallel agreement showing lower freight rate. The applicants received the remittance as per the actual agreement according to which the freight is actually US$ 27 PMT. In these circumstances, prima facie the applicant had not made a case for waiver of pre-deposit of duty. The applicants M/s. Twenty First Century Iron & Steel Ltd. are directed to deposit an amount of Rs.11,18,700/- within a period of eight weeks. On deposit of the above mentioned amount, the pre-deposit of the remaining amount of penalties are waived - stay granted partly.
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