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2014 (5) TMI 165 - CESTAT MUMBAIAid and abetment - Diversion of goods – Liability to confiscate goods - No High Seas Sales agreement - Non-existent unit - Goods sold without receiving payment - No High Seas Sales agreement – Reduction in Penalty - Held that:- Appellants knew the activities of M/s. Resham Exports that the goods will be diverted in the open market – It is held that appellants have aided and abetted in the activities of M/s. Resham Exports relating to diversion of the goods - The goods are liable to confiscation and appellants are liable to penalty - However, value of the goods sold is Rs.9.14 lakhs and duty involved is approximately Rs. 6 lakhs, the penalty imposed is on the higher side and therefore, penalty is reduced to Rs. 2 lakhs (Rupees Two lakhs only) – Decided partly in favour of assesse.
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