https://www.taxtmi.com/caselaws?id=756146 CESTAT New Delhi dismissed an appeal challenging rejection of declared F.O.B. value and penalties under Sections 114(iii) and 114AA of Customs Act, 1962. The appellant's authorized representative participated in market enquiry conducted with independent sellers and accepted the re-calculated value in his statement under Section 108. The tribunal found intentional misdeclaration of quantity and value (overvaluation by 2.8 times) to claim undue export benefits including Drawback and ROSCTIL. Goods were rightly confiscated under Section 113 sub-sections (i), (ia) and (ja). Penalties under Sections 114 and 114AA were upheld due to submission of false documents for export benefits. en-us Fri, 26 Jul 2024 00:00:00 +0530 Mon, 29 Jul 2024 10:02:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756146 CESTAT New Delhi dismissed an appeal challenging rejection of declared F.O.B. value and penalties under Sections 114(iii) and 114AA of Customs Act, 1962. The appellant's authorized representative participated in market enquiry conducted with independent sellers and accepted the re-calculated value in his statement under Section 108. The tribunal found intentional misdeclaration of quantity and value (overvaluation by 2.8 times) to claim undue export benefits including Drawback and ROSCTIL. Goods were rightly confiscated under Section 113 sub-sections (i), (ia) and (ja). Penalties under Sections 114 and 114AA were upheld due to submission of false documents for export benefits. Case-Laws Customs Fri, 26 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756146