https://www.taxtmi.com/caselaws?id=107930 Declared export value was found false on market verification conducted in the exporter's presence, and the exporter admitted that the price was unsupported by bills or challans. The surrounding circumstances showed overvaluation with intent to claim higher DEPB benefit, reinforced by the exporter's earlier voluntary relinquishment of the benefit. The clearing agent was found to have made false statements about verification of procurement price and was treated as an associate in the fraud. On these facts, denial of DEPB benefit and penalties under the Customs Act were upheld, and the challenge to the finding of overvaluation failed. en-us Thu, 04 Sep 2003 00:00:00 +0530 Tue, 27 Mar 2012 17:42:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=107930 Declared export value was found false on market verification conducted in the exporter's presence, and the exporter admitted that the price was unsupported by bills or challans. The surrounding circumstances showed overvaluation with intent to claim higher DEPB benefit, reinforced by the exporter's earlier voluntary relinquishment of the benefit. The clearing agent was found to have made false statements about verification of procurement price and was treated as an associate in the fraud. On these facts, denial of DEPB benefit and penalties under the Customs Act were upheld, and the challenge to the finding of overvaluation failed. Case-Laws Customs Thu, 04 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=107930