https://www.taxtmi.com/caselaws?id=125962 The penalties imposed on individuals involved in overvaluation of exported goods were modified in the case. Shri Sanjay Mehta and Shri Alpesh Shah had their penalties reduced from Rs. 10 lakhs to Rs. 5 lakhs each due to their involvement in the fraudulent scheme. Shri Hemant Parikh, with minimal involvement and lack of direct evidence against him, had his penalty set aside. The case highlights the significance of truthful valuation in exports and the consequences of deceitful practices under the Duty Drawback Scheme. en-us Thu, 11 Dec 2008 00:00:00 +0530 Thu, 01 Nov 2012 09:25:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125962 The penalties imposed on individuals involved in overvaluation of exported goods were modified in the case. Shri Sanjay Mehta and Shri Alpesh Shah had their penalties reduced from Rs. 10 lakhs to Rs. 5 lakhs each due to their involvement in the fraudulent scheme. Shri Hemant Parikh, with minimal involvement and lack of direct evidence against him, had his penalty set aside. The case highlights the significance of truthful valuation in exports and the consequences of deceitful practices under the Duty Drawback Scheme. Case-Laws Customs Thu, 11 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125962