https://www.taxtmi.com/caselaws?id=201937 Export consignments found to be intentionally overvalued on the basis of sham billing, unverified buyer details, no proof of payment and a questionable letter of credit were treated as liable to confiscation, because export value must reflect the true sale consideration. The Tribunal upheld confiscation under Sections 113(d) and 113(i) and sustained rejection of drawback since the consignments had not been exported on the facts found. It also held that penalty was justified against the exporter and connected persons who played distinct roles in the misdeclaration chain, while reducing the redemption fine and some penalties. en-us Tue, 01 Jun 2010 00:00:00 +0530 Wed, 02 Feb 2011 17:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201937 Export consignments found to be intentionally overvalued on the basis of sham billing, unverified buyer details, no proof of payment and a questionable letter of credit were treated as liable to confiscation, because export value must reflect the true sale consideration. The Tribunal upheld confiscation under Sections 113(d) and 113(i) and sustained rejection of drawback since the consignments had not been exported on the facts found. It also held that penalty was justified against the exporter and connected persons who played distinct roles in the misdeclaration chain, while reducing the redemption fine and some penalties. Case-Laws Customs Tue, 01 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201937