- 1 - IN THE HIGH COURT OF JUDICATURE AT BOMBAY O.O.C.J. CUSTOMS APPLICATION NO.37 OF 2003 ... The Commissioner of Customs (Exports) ...Applicant v/s. M/s.Mitexco & Ors. ...Respondent ... Mr.R.V.Desai with Mr.A.S.Rao for the Applicant. None for the Respondent. ... CORAM: D.K.DESHMUKH & J.P.DEVADHAR, JJ. DATED: 29TH SEPTEMBER, 2008 P.C.: 1. Heard Mr.R.V.Desai, the learned Counsel for the Applicant. None for the Respondent though served. 2. This Application was admitted on 21st April, 2005 on the following questions of law- 1. Whether the Tribunal is right in coming to a conclusion that there was no reason to believe that the goods were liable to be seized when facts on record clearly show that the reason to believe does exist and, therefore, the action impugned was taken by the Commissioner of Customs? 2. Whether the statutory authority under the Customs Act are empowered to re-determine the declared FOB value and re-calculate the amount of drawback on the basis of the value verified by the Department in view of the decision of the larger Bench of the Tribunal? - 2 - 3. The dispute in the present case relates to over valuation of the goods sought to be exported by the Respondent. From the show cause notice it is seen that the declared value of the export goods was Rs.78,05,851/- as against the market value of the goods at Rs.11,91,705/-. The Tribunal has set aside the order of the Adjudicating Authority on the ground that even though there is over valuation, since the country is getting foreign exchange, no action need to be taken against the exporter. Aforesaid question needs consideration and hence the application is allowed. The Tribunal is directed to forward the statement of case raising the aforesaid questions of law for the opinion of the court as expeditiously as possible. Application disposed off accordingly with no order as to costs. (D.K.DESHMUKH, J.) (J.P.DEVADHAR, J.)