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2010 (3) TMI 473 - AT - CustomsDEPB fraud - Overvaluation - misdeclaration of value of goods by over valuation thereof so as to fraudulently claim higher DEPB credits of Rs. 1,68,92,208 - The goods exported by all the three exporting concerns were revalued and DEPB credits were held to be inadmissible in addition to the consequences followed for the offence committed by the Exporters. Accordingly it was also held the credits so inadmissible were not transferable to the respective transferees for which the transferors are liable to pay the duty lost by Customs against the imports made using the credits. In addition to duty liability imposed, they were also subjected to fine and penalty followed by interest on the amount unpaid. – Held that: - Materials on record revealed that neither investigation nor process of investigation was challenged to be perverse or futile. Modus operandi of the group proved to be mala fide due to various dubious practices adopted and secret arrangements made by them to conceal source of procurement. Benami transactions came to light. What was apparent was not proved to be real. Chain of evidence established nexus of the persons involved and goods exported, to serve their ill will. Reasonable belief of Investigation followed by search brought entire deliberate acts and omissions of appellants to the fold of law. Nexus of each other and their close proximity to the goods exported and fraudulent claim of DEPB made came to light by niceties of investigation. - Crystal clear factual findings of the learned Adjudicating Authority and echoing evidence on record do not demonstrate that Adjudications were made suspiciously or under surmise. All pleadings of the appellants were ill founded.
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