TaxTMI 
TaxTMI 
2009 (7) TMI 990
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....artner of M/s. Dinesh Tobacco Ind., 2) Sh. Gopi Kishan Malani, partner of Dinesh Tobacco Ind., and 3) Sh. Ramesh Chand Malani, partner of M/s. Dinesh Tobacco Ind., (hereinafter referred to as the Co-Applicants) for settlement, under 127B of the Customs Act, 1962. The applicant and the co-applicants have all signed the said single application. 2. The Brief facts of the case are that this is a case of undervaluation. In this case the Applicants imported total quantity of 490.6 MTs of Betal Nuts from Dubai through Nhava Sheva and New Custom House, Mumbai vide 10 Bills of Entry, during the period from Aug, 2004 to Nov, 2006. During the course of investigation, the Income Tax Authorities provided the revenue with documentary evidence abo....
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....e value declared by M/s. Dinesh Tobacco Industries at time of customs clearance and actual transaction value agreed and paid to the overseas suppliers as per the documentary evidence and the statement of the partner of M/s. Dinesh Tobacco Industries and other concerned persons it clearly appears that the actual transaction value was much higher than invoice value. The differential amount was admitted and was paid by the Applicant during the course of investigation. 2.2 The Applicant, in true spirit of settlement and accommodation, accepted the differential duty amount to Rs. 3,78,67,867/- which have already been deposited alongwith the interest. The Applicant has also undertook that he would not indulge in any duty evasion or malpra....
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....8/- alongwith the interest as demanded in SCN. The Applicant deposited the said differential duty before issuance of the SCN. 4.2 The Applicant further submitted in his application that he has made full and true disclosure of the customs duty liability as per SCN without raising any disputes in true spirit of settlement. 4.3 The Applicant in his application prayed that the case may be admitted and settled as a whole once and for all, and he also prayed for grant of immunity from imposition of any fine, penalty & prosecution on the Applicant & Co-Applicants under the provisions of Customs Act 1962 and Rules made thereunder. 5. A notice dated 26th March, 2009 was issued to the Applicants. The applications were deemed t....
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....Applicant had at no stage either at the time of investigation or even before this Commission has come out with Books of Accounts of M/s. D.C. Trading and M/s. Dinesh Tobacco Industries. Hence the adjustment of Rs. 10 lacs deposited by the Applicant, M/s. D.C. Trading in account of M/s. Dinesh Tobacco cannot be done as both the firms are different entities. Beside determination of differential duty, though accepted by the Applicant has to be confirmed and settled by the commission. 8. The Bench has gone through the records of the case and the submissions made by the Applicant and the Revenue during the course of hearing. The Bench finds that though the Applicant in true spirit of settlement has discharged the entire differential duty....