2015 (11) TMI 252 - SCH - Customs

Stay application - Valuation - import of drawings, designs and documents separately from import of plant and machinery - drawings, designs and technical documents classifiable under Customs Tariff Heading 98.03 were imported through courier without payment of duty - Suppression of value at the time of import - Supreme Court stayed the demand raiased ubject to the petitioner depositing a sum of ₹ 6 crores before the Registry of this Court by end of May, 2015. The appeal was filed by assessee against the decision of Tribunal 2014 (8) TMI 396 - CESTAT NEW DELHI ; wherein it is held that exemption benefit of the notification claimed by it is not admissible to it since the drawings and designs are not books classifiable under the CTH claimed by the appellant.

Summary

The Supreme Court granted a stay of demand, subject to the petitioner depositing Rs. 6 crores before the Registry by the end of May 2015. The deposited amount will be kept in a short term fixed deposit in UCO Bank, Supreme Court Compound, New Delhi to accrue interest. Application for stay was disposed of.