Home Case Index All Cases Customs Customs + AT Customs - 2016 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (11) TMI 303 - AT - CustomsConfiscation - Notification No. 31/97 dated 1.4.1997 - Penalty - Held that: - the said imports were not intended to be used for the export in respect of which the licence was obtained. Thus the goods are to be treated as imports made, other than under advance licence - Notification 34(RE-98) (supra) regarding floor price restriction becomes applicable to import. Regarding valuation - merely because floor price has been fixed under ITC Policy, the value of goods cannot be enhanced - The only ground for enhancing the value is the public notice issued by DGFT - enhancement of value is without any authority - Demand set aside - Decided in favor of assessee.
|