2006 (12) TMI 250

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.... Shri R.K. Verma, DR, for the Respondent. [Order per : C.N.B. Nair, Member (T)]. -  Heard both sides and perused record. 2. These stay applications seek waiver of the requirement for pre-deposit of demands, penalties etc. made under the impugned order. 3. The demand is for the return of over Rs. 22 crores paid to the applicants as drawback amount, in regard to the exp....

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....not reached Russia inasmuch as the appellants have evidence to show that the goods were sent from Finland by road to Russia. It is also being emphasized that the exports were under a special scheme of exports under rupee payment towards outstandings debt owed to Russia. It is being emphasized that payments for all the consignments have been received from the Russian bank and the appellants' commer....

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....nable. Therefore, waiver is granted in regard to demands made on the ground of non-export. 6. However, the position is different on the issue of over valuation of exports. There is evidence supporting the revenue's finding that some of the export consignments had been grossly over valued. Therefore, the appellant is directed to make a deposit of Rs. 2.5 crores within a period of 8 weeks fr....