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TMI Blog2010 (9) TMI 578X X X X Extracts X X X X X X X X Extracts X X X X ..... ia by misusing the provisions of the EXIM Policy 2002-2007(TR Scheme). The intelligence also suggested that at the time of import, importers were mis-declaring the year of manufacture and the model number in order to suppress the actual value and to avail higher depreciation. By following this novel modus operandi, the importers were evading the actually payable Customs duty. It was found that one Toyota Land Cruiser make, bearing registration No. MH-01-GA-72 was in the possession of one Shri Shailendra Singh, Director of M/s. Percept Holding Pvt. Ltd., Mumbai. Inquiries were made and on scrutiny of the documents, it was revealed that the said car was imported vide Bill of Entry dated 16-12-2002 by one Shri Barot Pabu Devandh under TR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t appeared and 4. submitted that the appellant was no way concerned with the import of the said vehicle as it is evidenced from the statement of Shri Rajesh Anujan, Customs Clerk wherein he stated that he has been referred to him by the appellant and had never interacted with the appellant and all interaction relating to import was made with the importer and that after clearance of the vehicle was delivered to the importer. She further submitted that there is no violation of the Public Notice as no sale had been taken place within two years from the date of import and the vehicle was sold only after completion of two years period of its import in the year 2006. Merely, the vehicle was in the possession of Shri Shailendra Singh as secur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ailender Singh in his name as per the terms of the Agreement to Sale. In support of her contentions, she placed reliance on the following judgments : (1) Deo Dutta Sharma v. Manohar Lal & Ors. - 1974 Cril J 1156 (2) United India Insurance Co. Ltd. v. Jameela Beevi & Ors. - AIR 1991 Ker. 380, II (1991) ACC 482, 1991 ACJ820 (3) K.L. Johar and Co. v. The Deputy Commercial Tax Officer, Coimbatore III - AIR 1965 SCI 1082, [1965] 16 STC 213 (S.C.) (4) Instalment Supply Ltd. v. S.T.O. Ahmedabad-I and Ors. - AIR 1974 SC 1105, (1974) 4 SCC 739, (1975) 1SCR 386, [1974] 34 STC 65 (S.C.) (5) Insurance Company Ltd. v. Vimal Rai & ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... As per the submission of Shri Shailender Singh, vehicle was purchased by him from Shri Yoususf Poonawala (the appellant) through one Shri Afzal Khan of Bandra. He further submitted in his statement that the vehicle was shown to him by the appellant and the documents such as bill of entry, challan, passport of the importer were in the possession of the appellant. The appellant also explained that the vehicle is imported in Transfer of Residence Scheme is not transferable for a period of two years, however he (appellant) informed that he (appellant) will prepare loan agreement for the possession of said vehicle and the appellant negotiated the price of Rs. 39 lakhs. He also submitted that the appellant undertook that the vehicle will be trans ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eement between the importer and Shri Shailender Singh and as per the condition of the agreement if the importer failed to pay the said loan amount within two years then the vehicle will get transfer and the vehicle in question was given to Shri Shailendra Singh as a security against the loan is not acceptable as the impugned agreement (claim by the appellants) is not a relied upon document during the course of adjudication. The impugned agreement which the appellant relied is not a valid agreement (as it is not signed by both the parties) in the eyes of law. But from the facts and circumstances of the case, it emerges that a 10. negotiations for the sale of the car was entered between the appellant and Shri Shailendra Singh at Rs. 39 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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