https://www.taxtmi.com/caselaws?id=52018 The Tribunal set aside the decision of the lower authorities regarding the misdeclaration of export price, confiscation of goods, and penalty under the Customs Act. It found the determination of the FOB value as arbitrary and lacking legal basis, allowing DEPB credit based on the declared FOB value of US $ 3.40 per piece. The Tribunal held that DEPB benefits should be calculated according to specific percentages of the FOB value as per scheme guidelines. As a result, the appeal was allowed, overturning the penalties imposed on the appellant. en-us Fri, 29 Aug 2003 00:00:00 +0530 Thu, 30 Sep 2010 11:22:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52018 The Tribunal set aside the decision of the lower authorities regarding the misdeclaration of export price, confiscation of goods, and penalty under the Customs Act. It found the determination of the FOB value as arbitrary and lacking legal basis, allowing DEPB credit based on the declared FOB value of US $ 3.40 per piece. The Tribunal held that DEPB benefits should be calculated according to specific percentages of the FOB value as per scheme guidelines. As a result, the appeal was allowed, overturning the penalties imposed on the appellant. Case-Laws Central Excise Fri, 29 Aug 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52018