TaxTMI 
TaxTMI 
2016 (9) TMI 1387
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....spondent. ORDER [Order per : Raju, Member (T)]. - The appellant, M/s. Nangalia Impex filed a shipping bill for export under DEPB scheme. Revenue recorded the statement of Shri Vimal Kumar Nangalia, parter of M/s. Nangalia Impex wherein he admitted that the value in the shipping bill was about 240% of the value declared in the AR-4. The present market value of the goods was declared as Rs. 4,19,1....
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....der of the original adjudicating authority. Aggrieved by the said order, the appellants are before the Tribunal. 2. No one appeared for the appellants. 3. From the ground of appeal it is seen that the partner had not admitted the declared inflated FOB value. It has been argued that the partner had only accepted the DEPB credit at 150% of the AR-4 value as C.B.E. & C. Circular permitted....
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....nue is willing to accept a FOB price up to 50% higher than the AR-4 price without market enquiry. In case of declared FOB value being more 150% it mandates a market enquiry. In the instant case no market enquiry has been conducted. In the absence of any market enquiry the declared FOB value cannot be rejected. Furthermore, in the instant case Revenue has also not produced any evidence of contempor....