TMI Blog2011 (5) TMI 449X X X X Extracts X X X X X X X X Extracts X X X X ..... statement prepared at the time of verification is about total import of gold, total export, gold recovered from dust, gold in stock and the finding and mountings in stock - Taking into consideration this quantity, the shortage of 8971.11 grams was found - In the memo prepared in respect of stock taking there is no mention of 9% wastage which is provided under the Notification - Therefore, the imp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ication provides duty-free import of gold on the condition that the same will be used in the manufacture of jewellery for export. The Notification also provides that the importer shall maintain a proper account of import, consumption and utilisation of the goods imported and of the exports made by him, and shall submit account periodically to the Assistant Collector of Customs. On 1.12.1998, the b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he imported gold and the same were exported and the adjudicating authority has not allowed the 9% wastage which is provided under the Notification. The appellant also relied upon the following decisions of the Hon ble Supreme Court and the Tribunal: (i) CC, Mumbai vs. MMK Jewellers 2008 (225) ELT 3 (SC); (ii) R.B. Jewellery Corporation vs. CC, Mumbai 2006 (206) ELT 983 (Tri.-Mumbai). 5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he shortage of 8971.11 grams was found. In the memo prepared in respect of stock taking there is no mention of 9% wastage which is provided under the Notification. In these circumstances, we find that the matter requires reconsideration by the adjudicating authority afresh. The impugned order is set aside and the matter is remanded to the adjudicating authority to decide afresh after taking into c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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