2013 (11) TMI 787

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ing bill number No. 4078709 dated 30-3-2006 at Air Cargo Complex, New Delhi for export of 57797.00 metres of fabric made of man-made filament yarn declaring FOB value of Rs. 75,53,200.95 claiming DEPB benefit of Rs. 5,89,149.69 at the rate of 7.5% of FOB value which was the rate notified for the said goods. On examination the goods were found short by 4697.26 metres. Further Revenue was of the view that the value declared at Rs. 130.68 per Metre was not correct and was an inflated value declared for claiming higher DEPB benefit. Revenue made enquiries about the firm which was stated to have supplied the goods. But the firm was not found at the address given. Revenue drew samples from the consignment and sought opinion about from three reput....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....roposed in the SCN was based on the opinion of three reputed textile exporters who gave opinion regarding value after seeing the samples. He submitted that since the value of the goods were declared fraudulently at high levels the DEPB benefit should have been restricted on the basis of Present Market Value ascertained by the department. 5. We have perused the adjudication order. We find that the submission of the respondent as recorded in Para 14 of the impugned order which is relevant to the matter is reproduced below : "14. From the fact that no unit in the name and style of M/s. Mahaluxmi Enterprises was found at the given address does not lead to the conclusion that the goods have not been supplied by said M/s. Mahaluxmi Enterpri....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f his order for not upholding the charge of overvaluation. This paragraph is reproduced below : "31. Regarding (a) there is no other evidence to prove that the goods were overvalued except the market enquiry report. The average market price of the product is Rs. 65 per metre whereas the declared FOB of the product is Rs. 130.68. The highest value shown on market enquiry was Rs. 95 per metre and the variation with the declared FOB value comes to Rs. 35.68, which works out to approximately 38%. After deducting the commission amount of 12.5% the difference comes to only 25.5%. I don't find this to be an abnormal variation. Further the party has submitted the Bank Realisation Certificate which shows that the full payment had been received fo....