TMI Blog2016 (9) TMI 1387X X X X Extracts X X X X X X X X Extracts X X X X ..... e being more 150% it mandates a market enquiry - In the instant case no market enquiry has been conducted. In the absence of any market enquiry the declared FOB value cannot be rejected - Revenue has also not produced any evidence of contemporary exports while the appellants have produced the bank realization certificate for the entire declared FOB - penalties set aside - appeal allowed - decided ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1/-. A show cause notice was issued to the appellant seeking to confiscate the goods exported provisionally under Section 113(d) and (i) of the Customs Act, 1962, to deny entire DEPB benefit of ₹ 1,14,856/- and to impose penalty under Section 114(i) and (iii) of the Customs Act. The original adjudicating authority ordered confiscation of the said goods cleared provisionally and however, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nally without any bond and therefore, confiscation cannot be upheld. It has been argued that the appellant had already at the stage of adjudication produced the evidence of receipt of full foreign exchange in form of bank realization certificate. The department has also not produced any evidence of contemporary exports at lower, higher or differential price. 4. Learned AR argued that there is a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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