TaxTMI 
TaxTMI 
2007 (6) TMI 23
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....OMMR/33/2002 dated 10-10-2002. 2. Heard both sides. 3. Relevant facts, in brief, are as follows: (a) The appellant M/s. Success Engineering is an exporter based in Hong Kong and made shipments of HDPE consignments to India based importers. (b) The appellant furnished invoices dated 21-7-1997, at the rate of US $ 550/MT of HDPE and based on which, the importers filed bills of entries for cleari....
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....r clearance of the consignments. By the above mentioned order, a sum of Rs.15 lakhs was imposed as penalty on the CHA firm and Rs.20 lakhs on the partner. 4. The ld. Advocate for appellants submits that they supplied initially at the rate of US $ 600/MT and subsequently when the importers refused to clear, due to price having fallen, they issued another invoice anti-dated (21-7- 1997) at the rate....
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....hrough the Bank for certain value, to supply invoice at a lower value to the importer does not seem to be a bona fide exercise. Test results show that the materials imported were "prime" quality instead of "near prime" quality. This modus operandi could not be explained merely as issue of an anti-dated second invoice to give effect to reduction in price ofHDPE. Therefore, the offending nature of t....