TMI Blog2014 (4) TMI 17X X X X Extracts X X X X X X X X Extracts X X X X ..... edit on the basis of such declaration. Therefore, the mis-declaration of PMV can only be considered a as an error without any intent to contravene the law. In these circumstances, the appellant should have been only warned rather than imposed with penalty - appellant has made out a case for waiver of pre-deposit of the penalty imposed. Accordingly, we grant unconditional waiver from pre-deposit of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rted under the provisions of Section 117 of the Customs Act, 1962. Aggrieved of the same, the appellant is before us. 3. The Ld. Counsel for the appellant submits that they had undertaken exports of pharmaceutical products to Russia and other countries under the DEPB scheme. Under the said scheme, the appellant was required to declare, apart from the FOB prices, the present market value of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted for mis-declaration. In the present case the FOB value declared is around Rs.200/- per unit whereas the PMV shown is more than four times the FOB price and the said conclusion is also evident from the prices reported for the Indian Market in the Drugs Review Magazine. Therefore, the charge of mis-declaration of PMV is established and therefore, the adjudicating/appellate authorities were justi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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