Fake duty exemption licenses used for chemical import, penalty reduced on lack of fraud evidence.

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....Penalty imposed for import of chemicals using fake duty exemption licenses. Appellant claimed exemption under DEPB but used fake licenses and TRAs. Statement of witness Chandran retracted, no nexus established between brokers and imported goods. No finding of fraudulent conduct by Appellant. Tribunal considered relevant facts, reduced penalty from Rs. 5 lakhs to Rs. 3 lakhs based on evidence. HC upheld Tribunal's factual findings and conclusions, dismissed appeal.....