https://www.taxtmi.com/caselaws?id=34164 False declaration of FOB and present market value in export shipping bills under the DEPB framework was treated as a statutory breach attracting confiscation, because inflated valuation and non-compliance with export conditions brought the goods within the mischief of prohibited goods. Board circulars did not prevent investigation or confiscation where fraud and misdeclaration were established, so the confiscation was upheld. Separate penalties were sustained against persons who knowingly participated in, facilitated, or abetted the overvaluation and export arrangement, including by altering values, issuing inflated invoices, or assisting the shipment with knowledge of the misdeclaration. en-us Wed, 17 Sep 2008 00:00:00 +0530 Tue, 21 Jul 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34164 False declaration of FOB and present market value in export shipping bills under the DEPB framework was treated as a statutory breach attracting confiscation, because inflated valuation and non-compliance with export conditions brought the goods within the mischief of prohibited goods. Board circulars did not prevent investigation or confiscation where fraud and misdeclaration were established, so the confiscation was upheld. Separate penalties were sustained against persons who knowingly participated in, facilitated, or abetted the overvaluation and export arrangement, including by altering values, issuing inflated invoices, or assisting the shipment with knowledge of the misdeclaration. Case-Laws Customs Wed, 17 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34164