TMI Blog2000 (4) TMI 699X X X X Extracts X X X X X X X X Extracts X X X X ..... . Brief facts of the present appeal of the Revenue are that the importers, M/s. Hemani International, imported a consignment of Fan Coil Unit as part of split type Air Conditioning System by declaring the unit price of U.S. $62.00 (C.I.F.) per unit. The impugned goods were also sought to be cleared under Appendix 3, Part A of I.T.C. Policy, 1988-91. 1.1. On examination, the contents were f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oods for assessment purpose. Regarding licensing aspect it was ascertained that the Fan Coil Units were in the form of finished sub-assembly. Thus, the impugned goods, being sub-assembly of split Air Conditioner - a consumer item, fall under serial number 146 of Appendix 2B of Exim Policy, 1988-91. Hence, clearance of the impugned goods could not be allowed under Appendix 3, Part A of I.T.C. Polic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ring de novo adjudication, the Assistant Commissioner again confiscated the goods and imposed personal penalties of Rs. 50,000.00 and 25,000.00 on the firm as well as on the proprietor of the Firm. On appeal against the above Order, the Commissioner (Appeals) set aside the impugned Order. The Revenue is aggrieved with the said Order and has preferred the present appeal. 4. We have heard Shri R.K ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the Grounds of Appeal, the Revenue has not given any evidence of any contemporaneous imports of higher value. On the contrary, they have agitated that the importers have not placed any evidence to the effect that identical/similar goods were passed at the invoice value during the material period. As such, the Revenue has prayed that the value fixed under Rule 8 of the Valuation Rules was correct ..... X X X X Extracts X X X X X X X X Extracts X X X X
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