2019 (7) TMI 1431

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....ant Singh, J, (Oral). Petitioner-firm, situated in Ludhiana, is engaged in the business of import of yarn. During the period 2005 to 2007 it imported various types of yarn and blankets allegedly after following due procedure. The Directorate of Revenue Intelligence-respondent no.3 purportedly received intelligence that the petitioner firm was indulging in evasion of Custom Duty by mis-declaring ....

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.... petitioner company alleging evasion of customs duty of Rs. 246.35 lacs by mis-declaring the value and description of yarn as also by incompletely declaring the description of the yarn imported by petitioner from China and Singapore. Further in the said show cause notice (P-1) customs duty alongwith interest under Section 26 AB of the Customs Act, 1962 (hereinafter referred to as the Act) and pena....