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2009 (1) TMI 166 - CESTAT, NEW DELHIDEPB export fraud- claimed ineligible and excessive DEPB credits - M/s. G.R.M.L, the company did not have any plant and machinery in working condition. They have merely purchased the export-goods from Elin Electronics Ltd. through PESL but shown them as if manufactured by them by manipulating the raw material and production records. They have shown sale at highly inflated prices to the exporting firms to enable inflation of the export price with a view to claim excess DEPB benefits. For example, the goods invoiced by the actual manufacturer at Rs. 36.17 was shown to have been sold by PESL at Rs. 44.47 to M/s. G.R.M.L. who has shown sale at Rs. 430/- - Penalty imposed on company is valid but reduced from 10 lakhs to 5 lakhs - penalty individuals also upheld but reduced.
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