TMI Blog2006 (1) TMI 387X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the Custom authorities, it was found that actual value of the toys is Rs. 25,71,726/-. After issue of show cause notice, the adjudicating authority confiscated the goods on the ground of mis-declaration and allowed the same to be released on payment of redemption fine of Rs. 10 lakhs and duty of Rs. 5,20,729/- was confirmed and penalty of Rs. 10 lakhs was imposed on the appellant. 4. The contention of the appellant is that they made import of the goods from M/s. Zeptron (HK) Ltd. and filed the Bills of Entry. The contention is that there is no evidence on record to show that the appellant made mis-declaration in respect of the value of the goods and there is no evidence on record that similar goods are being imported at higher price ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rter. The invoiced amounts were to be settled on DP terms (payment against the document) while the balances were paid by cheque or telegraphic transfer. On the basis of this information which is in particular in respect of the same invoices which were produced by the appellant in support of the value declared in the Bills of Entry. This value declared by the appellant is not a correct value, therefore, the value declared by the importer was rightly rejected. The Revenue also relied upon the decision in the case of Mahalaxmi International Exports v. CC reported in 2004 (169) E.L.T. 68 and in the case of Craft Studio v. CCE reported in 2004 (163) E.L.T. 109. The contention is that the Tribunal in these cases held that in case the invoices of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a by the above company. We find that the CIF values stated in the invoices referred by you were false for Invoice No. KT-1298-97, the CIF value stated therein (US$ 8,938.30) represented only 30.92% of the actual CIF value of the goods (US$ 28,901.06). For the other Invoice No. KT-1071-98, the CIF value stated therein (US $ 12,622.80) reflected only 33.6% of the actual CIF value of the goods (US $ 37,562.56). The company issued the false invoices at the request of the Indian importer. The invoiced amounts were settled on D.P. terms while the balances were paid by cheque or telegraphic transfer. When the company lodged the export declarations with us, it declared incorrect FOB values of the goods. We shall prosecute the company for lodg ..... X X X X Extracts X X X X X X X X Extracts X X X X
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