TMI Blog1991 (8) TMI 178X X X X Extracts X X X X X X X X Extracts X X X X ..... egistered with the Textile Commissioners in terms of the ITC Order showed a price of $ 3.40 instead of the contract price of $ 3.70 per Kg. in respect of 40 D, $ 3.00 per Kg instead of the contract price of $ 3.30 per Kg in respect of 50 D and $ 3.70 per Kg instead of the contract price of $ 3.90 per Kg. in respect of 30 D. The importer explained the reduction from the earlier contract price on account of quality and introduction discount. Since the explanation was not found sufficient three show cause notices dated 11th August, 1983 were issued alleging under-valuation. In support of the allegation of under-valuation quotations dated 25-7-1983 and 4-7-1983 given by M/s. Damodar Sons and M/s. J.M. Trading Corporation respectively were rel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he goods are only the two relevant factors. Since rate might change at the time of removal of the goods from the warehouse it is not necessary to assess the bill of entry for home consumption at all at the time of allowing the goods to enter the warehouse. Seeing in this light, the learned advocate has submitted that the show cause notice was premature and the question of valuation was not to be decided at the time of allowing the entry of the goods in the warehouse. In other words, he submits that there is no necessity to assess the bill of entry for warehousing. It is only a bill of entry for home consumption which is required to be assessed to duty so that the duty assessed can be paid. 2.1 Learned DR opposing the said contention has u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s in a warehouse without payment of duty. Section 46 of the Customs Act directs that an importer of any goods other than the goods intended for transit or transhipment, shall make entry thereof by presenting to the proper officer a bill of entry for home consumption or for warehousing in the prescribed form. Section 17 further makes it mandatory that duty, if any, leviable on the imported goods shall be assessed except as otherwise provided in Section 85 which has no application in the present case. We also notice that warehousing of the goods is covered by Chapter IX of the Customs Act. Section 59 envisages execution of a bond by the importer in a sum equal to twice the amount of the duty assessed on such goods. This provision, clearly ind ..... X X X X Extracts X X X X X X X X Extracts X X X X
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