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TMI Blog2008 (9) TMI 252X X X X Extracts X X X X X X X X Extracts X X X X ..... R for the revenue. 3. We heard both sides. 4. The appellant is a 100% EOU who are manufacturers of Acrylic Mink Blankets falling under Chapter 63 of the Schedule to the CETA, 1985. They were permitted to exit from the 100% EOU scheme by the Development Commissioner subject to fulfilment of certain conditions. Therefore, the Assistant Commissioner determined the duty liability to be paid by the appellants on the raw materials, in-process goods, finished goods and capital goods lying in stock. He also demanded interest on the raw materials which were not put to use for the intended purpose. Aggrieved by the order of the Assistant Commissioner, the appellants approached the Commissioner (A). The Commissioner (A) examined each issue and in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ner subject to the payment of Excise Duty. In the policy, only imported and indigenous capital goods, raw materials, components, consumables, spares and finished goods in stock are mentioned. There is no mention about the in-process goods. In the absence of the mention of the in-process goods in the policy, there is no authority for demanding duty on the in-process goods. Hence, we set aside the demand of duty on the in-process goods. 5.2 Further they have questioned the valuation adopted in respect of the goods lying in stock. It is their grievance that though the Chartered Engineer valued these items, only selectively the value recommended by him has been adopted by the lower authority. The Commissioner (A) has justified that in respect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... terest also, the appellants stated that initial warehousing period is three years whereas but only one year period has been taken for calculation of interest. This also can be looked into by the lower authority in light of the law which was prevalent during the relevant time. We do not want to express any opinion on that, since we are going to remand the matter to the lower authority in respect of the various points raised especially the value of the imported and indigenous capital goods. This also can be looked into by the lower authority. Hence, in the interest of justice, we remand the matter to the lower authority for re-calculation in the light of the observations made above within four months. It is needless to say that the lower auth ..... X X X X Extracts X X X X X X X X Extracts X X X X
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