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2023 (8) TMI 559 - AT - CustomsValuation of export goods - Iron Ore Fines - enhancement of value - correctness of determination of value of the goods based on the price by adopting the wet metric ton weight of the Iron Ore find i.e. by including moisture content - HELD THAT:- Admittedly there is no dispute to the fact that the Respondent has provided the copy of the Agreement with the overseas importer wherein, it is specified that the Respondent will be paid based on the dry matric weight of the iron ore. This Tribunal in the case of COMMR. OF CUS. (AIRPORT) , CHENNAI VERSUS KOTHARI SUGARS & CHEM. LTD. [2008 (2) TMI 757 - CESTAT, CHENNAI] where it was held that bank guarantee furnished by an assessee under court’s order to secure the Revenue was held not amounting to payment of duty of excise and, accordingly, the provisions of Section 11B of the Central Excise Act was held inapplicable to a claim for refund of such amount. The above decision is squarely applicable in the present case also since no Stay has been granted by the Supreme Court. There are no merit in the Appeals filed by the Revenue - appeal dismissed.
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