TaxTMI 
TaxTMI 
TaxTMI 
2009 (5) TMI 523
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....broad and that in most of the cases goods were never cleared from Customs in spite of payments having already been made outside India. It was found that M/s. Unicorp Industries Ltd. and M/s. Advance Computers & Software Pvt. Ltd. were engaged in importing software and hardware (computer parts) from M/s. Freesia Trading Pvt. Ltd., Singapore, and not clearing the same from Customs. All 47 such consignments imported by the above three companies comprised of computer parts, computer peripherals and software. Bills of entry were found to have been filed, in some cases, with a declared FOB value of 25 crores. Shri Arun Sogani, Managing Director of M/s. Unicorp Industries Ltd., was managing all the three companies either as Managing Director or Di....
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....ch on M/s. Unicorp Industries Ltd. and M/s. Unicorp Overseas Ltd.; penalty of Rs. 5,00,000/- on M/s. Advance Computers and Software Pvt. Ltd.; and penalties of Rs. 10,00,000/- each of Shri B.B. Gupta, Shri V.P. Gupta, Shri Madan Agarwal and Shri Ashok Sanghi; penalty of Rs. 5,00,000/- on M/s. Air Impex Cargo Agency (CHA); and penalty of Rs. 30,00,000/- on Shri Arun Sogani, Managing Director of M/s. Unicorp Industries Ltd. The appeals before the Tribunal have been filed by two Directors of M/s. Unicorp Industries Ltd. as well as its Company Secretary and by the CHA. 2. I have heard both sides Penalty has been imposed on Shri B.B. Gupta, who was looking after the work relating to import, such as, filing of bill of entry, clearance from Custo....
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....bsp; valuation of goods to be exported was undertaken by their Singapore offices; - the imports from Singapore were either directly from M/s. Unicorp Industries (S) Pt. Ltd., (fully owned subsidiary of M/s. Unicorp Industries Ltd) or through M/s. Freesia Trading Pte., Singapore; - the affairs of M/s. Unicorp Industries (S) Pte. Ltd., Singapore were handled by Sh. Amit Jain who also managing the day to day affairs of Freesia Trading Co. - the goods imported from Singapore were generally traded back to the same companies abroad; - &n....
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....p; M/s. Unicorp Industries Ltd., used to import SIMM Card, Drams, CPU's for re-export purposes; - Some export payments got delayed resulting in stoppage of further exports; - The import orders got shipped and accumulated at Customs; - The financial problems in South East Asia and heavy devaluation of their currencies." In his statement dated 20-8-1999, Shri B.B. Gupta, has deposed as under : "- from middle of the year 1997 onwards, there were serious financia....
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.... on his part which would render the imported goods liable to confiscation under Section 111 of the Customs Act, 1962, therefore, I set aside the penalty imposed upon him. 3. As regards Shri V.P. Gupta, penalty has been imposed upon him on the ground that he was looking after the share department, liaison work with all Government Departments, account books and record keeping of the company for proper maintenance, RBI complaints and other related matters. He has stated that Shri Arun Sogani was looking after imports, exports and bank transactions relating to imports and exports. There is no material on record to establish that he looked after the import - export department or was involved in negotiations for import of goods. Since no omissio....