2006 (11) TMI 103

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....challenging the order of the Commissioner, by which a penalty of Rs. Four lakh was imposed on M/s. Jaina International, under Section 114 of the Customs Act, 1962, and a penalty of Rs. One lakh was imposed under the same provision on Shri Om Prakash Jain, the sole proprietor of the said concern. 2. There is no dispute over the fact that benefits were taken by fraudulently obtained DEPB scrips a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ds in violation of the provisions of Section 18(1)(a) of the Foreign Exchange Regulation Act, 1973, read With Notification issued thereunder on 1-1-1974. As per the said provision and the notification issued thereunder, exports, otherwise than by post, of all goods, either directly or indirectly to any place outside India, other than to Nepal and Bhutan were prohibited, unless the exporter furnish....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tification No. GSR 78 dated 1-1-74 issued thereunder. In case of Shipping bill Nos. 1067244 dated 28-9-99, 1066560 dated 23-9-99, 1076094 dated 1442-99 and 1764 dated 21-7-99, the foreign exchange was not realized within six months, as required by Rule 8 of the Foreign Exchange Regulation Rules, 1974 and as under taken by the exporter in the GR declaration forms. Under Rule 14 of the Foreign Trade....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nce from the adjudicating authority. The goods were, therefore, clearly liable to confiscation as rightly held by the Commissioner and, therefore, the exporter M/s. Jaina International was liable to penal action, There is, therefore, no warrant to interfere with the impugned order imposing penalty on the exporter, M/s. Jaina International, In view of the fact that the appellant, as the managing pa....