TaxTMI 
TaxTMI 
2023 (9) TMI 665
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.... have filed these appeals before the Tribunal. Vide the impugned order, the learned adjudicating authority has imposed penalty of Rs.57,39,594/- and Rs.1,00,00,000/- respectively on the appellants under Section 114 of the Customs Act, 1962. 2. The case involved in these appeals relates to overvaluation of export of goods made by M/s Sri Balaji Overseas, Mumbai for availment of higher rate of drawback. The department had conducted inquiry in to the matter and recorded the statements from various persons and based on the relied upon documents, the adjudged demands were confirmed on different persons, including imposition of penalties on the appellants. 3. Learned Advocate appearing for the appellant Shri Sanjay D. Bhalerao submitted that no....
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....ctor of Customs, Madras & Others - 1987 (28) E.L.T. 396 (Tri.) and Order dated 03.06.2011 passed in the case of IDBI Bank Ltd. Vs. Commissioner of Customs (Export), New Delhi - 2011 (274) E.L.T. 439 (Tri.). 5. Heard both sides and examined the case records. 6. We find that the department had not issued any summon(s) to the appellant Shri Sanjay D. Bhalerao for recording of statement(s) with regard to irregular exportation of the subject goods and for ascertaining his specific role with regard to such activities. Though, the impugned order has stated that the appellant had earned 50% of profit out of the export proceeds, but did not elaborate any findings with regard to the actual role played by the appellant in irregular exportation of th....
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....eipt of LC and registration of same was advised to the exporter by the Bank. Even amendments in LC were to be got registered with RBI. Only after the registration by the RBI, the exporter could export the goods. (e) The Indian Bank would scrutinize the Documents presented by the exporter (Shipping Bill. Bill of Lading, etc.) as per the terms & conditions of LC and send the same on collection basis to the Russian designated Bank, which was to report discrepancy, it any, within seven working days. If no discrepancy was reported within seven days then the documents were considered compliant and claim was lodged with RBI." 8. On reading of the above clarification, it makes the position clear that the Indian bank's role is confined only for s....