2004 (1) TMI 166

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.... sides. The appellants filed a shipping bill for export of cut and polished diamonds. On examination, the impugned goods were found to be overvalued. The ascertained value was US $ 20,811.55 as against the declared value of US $ 2,61,336.25 (equivalent to Rs. 1,07,50,000/-). Thus, the impugned goods were found to be over invoiced to the extent of US $ 2,40,524.70 (equivalent to Rs. 98,95,196/-). A....

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....pugned goods were not dutiable nor the same were being exported under claim of drawback. The question for decision is whether the impugned goods can be considered as prohibited goods. 3.  This question has been gone into in great detail by the Apex Court in the case of Om Prakash Bhatia v. C.C., Delhi - 2003 (155) E.L.T. 423 (S.C.) and the legal position is now well settled. Section 2(33) ....