https://www.taxtmi.com/caselaws?id=33785 The Tribunal upheld penalties on individuals and companies involved in fraudulent exports under the DEPB Scheme, orchestrated by Parasmal Rampuria. The first appellant, Shri Naresh Jain, was not penalized due to lack of specific allegations. M/s. G.R. Magnets Ltd. admitted to inflating export prices, with their penalty reduced to Rs. 5 lakhs. Shri Rohitash Bhomia, closely collaborating in the fraud, saw his penalty reduced to Rs. 5 lakhs. The judgment emphasized the organized nature of the fraud and reduced penalties based on individual circumstances and evidence presented. en-us Tue, 06 Jan 2009 00:00:00 +0530 Fri, 12 Jun 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33785 The Tribunal upheld penalties on individuals and companies involved in fraudulent exports under the DEPB Scheme, orchestrated by Parasmal Rampuria. The first appellant, Shri Naresh Jain, was not penalized due to lack of specific allegations. M/s. G.R. Magnets Ltd. admitted to inflating export prices, with their penalty reduced to Rs. 5 lakhs. Shri Rohitash Bhomia, closely collaborating in the fraud, saw his penalty reduced to Rs. 5 lakhs. The judgment emphasized the organized nature of the fraud and reduced penalties based on individual circumstances and evidence presented. Case-Laws Customs Tue, 06 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33785