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TMI Blog1995 (10) TMI 149X X X X Extracts X X X X X X X X Extracts X X X X ..... t, President ]. - Respondents-assessees and respondents' counsel are absent. There is no request of adjournment made. We have heard Senior Departmental Representative, Shri T.R. Malik. 2. Assessee imported plant and machinery, presented Bill of Entry on 16-5-1977 and warehoused the goods on the same day under Bond duly executed. Goods were cleared on payment of duty on 22-9-1980. In calcul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns 14, 15 and 46 of the Customs Act, 1962. Section 15 underwent some changes in 1966. Sections 14, 15 and 46 underwent changes by Act 25 of 1978 which came into force on 1-7-1978. As the proviso stood after the 1966 amendment, in the case of goods imported under Section 46, the rate of duty, the rate of exchange and tariff valuation shall be the rate and valuation on the date on which Bill of Entr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e had come into force on July 7, 1966, the customs authorities and the Central Government were quite right in taking the view that the rate of duty applicable to the imported goods had to be determined according to the law which was prevalent on the duty they were actually removed from the warehouse, namely, the amended Sections 14 and 15 of the Act. There is therefore no force in the argument tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder Section 46 or Shipping Bill of export as the case may be, is presented under Section 50." 5. The rate of duty and the tariff valuation, in the case of goods cleared from a warehouse under Section 68 have to be determined as on the date on which the goods were actually removed from warehouse by virtue of sub-section (1) of Section 15 of the Act. The rate of exchange is no longer dealt wi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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