2007 AIR SCW 1262 ::AIR 2007 SC (Supp) 447 ::2007 (9) SCC 168 ::(2007) 3 Scale 19 ::(2007) 4 Bom CR 365 ::(2007) 3 Supreme 655

Supreme Court Of India

Hon'ble Judge(s): Tarun Chatterjee, V. S. Sirpurkar , JJ

Customs Act (52 of 1962) , S.114— Export Import Policy (1-3-97 to 31-3-2003) , Para.7.25— Duty Entitlement Pass Book Benefit - Misdeclaration of FOB price to earn more benefit - Assessee exporting coffee mugs - Allegation that FOB value was 450% more than purchase value - BRCs produced by assessee showing that assessee has actually received FOB price - Once that is clear, there will be no question to hold that FOB is inflated - Moreover, PMV is also correctly fixed and is within permissible limits - Plea that FOB price was inflated - Not tenable. (Para 9 10 11)