https://www.taxtmi.com/caselaws?id=42939 Deliberate undervaluation in shipping bills and G.R.-I forms, detected before export was completed, was treated as a contravention of export-declaration requirements. The reasoning distinguished earlier authorities on post-export defaults and minor inaccuracies because those cases involved completed exports and repatriation issues, whereas this case involved a pre-export attempt to suppress the true value and route profit through the export transaction. On that basis, the customs authorities were justified in invoking the penal and confiscatory provisions under the Foreign Exchange Regulation Act, 1947. en-us Wed, 13 Mar 1991 00:00:00 +0530 Fri, 23 Jan 2015 10:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=42939 Deliberate undervaluation in shipping bills and G.R.-I forms, detected before export was completed, was treated as a contravention of export-declaration requirements. The reasoning distinguished earlier authorities on post-export defaults and minor inaccuracies because those cases involved completed exports and repatriation issues, whereas this case involved a pre-export attempt to suppress the true value and route profit through the export transaction. On that basis, the customs authorities were justified in invoking the penal and confiscatory provisions under the Foreign Exchange Regulation Act, 1947. Case-Laws Customs Wed, 13 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=42939