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2016 (9) TMI 73 - AT - CustomsImposition of penalty – lenient consideration on the quantum of penalty – IE code – mis-declared imports – rejection of declared value – Held that: - racket of smugglers abused the IE code granted by DGFT and also mis-declared the goods and upon detection of the mis-declaration they have vanished. When statements were recorded from different importers, the authority also found that benami transactions were made and some name lenders operated the action. The ill-gots were parked to the total detriment of the customs – no grant of relief – appeal rejected – decided against appellant.
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