9911796707
TMI Blog1990 (6) TMI 186X X X X Extracts X X X X X X X X Extracts X X X X ..... ed as below: 3. The appellants are running a Roller Flour Mill producing Maida. They had imported a consignment of Chilled Cast Iron Rolls for their mill and claimed clearance under Appendix 10 Item 4 of AM 1982-83 Policy as permissible spare. However, the department objected to the clearance on the ground that the goods have been imported during the 1983-84 Policy and the Letter of Credit has been opened only during the Policy Period 1983-84 and the aforesaid item as per the Policy AM 1983-84 has been listed under Appendix 3 requiring a specific licence and cannot be imported as permissible spare under Appendix 10. In the adjudication proceedings initiated by the Collector, the aforesaid item was ordered confiscation but allowed redempti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation to ensure that the terms and conditions of sale were not changed. In pursuance of this request, from the bank, the appellants obtained a fresh order confirmation, which is dated 26-4-1983. On this basis, the Letter of Credit was opened on 14-6-1983. After taking us through these documents, the learned Advocate also referred to two certificates issued by the Central Bank of India, one is dated 27-1-1984 and another is dated 30-1-1984, wherein the bank indicated that the application for opening the Letter of Credit had been received with order confirmation in the month of February, 1983 and due to processing of documents and sanctioning of term loan, though the Letter of Credit was opened in the month of June, based on their application ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10-2-1983 as seen from the rubber stamp of the bank on the Photostat copy of the order confirmation. It is also found that the Central Bank of India, the authorised foreign exchange dealer have acknowledged receipt of the letter for request for opening the Letter of Credit as early as in February, 1983 based on the firm order dated 2-2-1983 clearly indicating the delivery schedule as 8 to 10 months. In the circumstances, we are unable to accept the argument of the learned SDR Shri K.M. Mondal, to the effect that the latest order confirmation does not indicate the time schedule and hence it cannot come within the purview of condition No. 7 of Appendix 10 of AM 1982-83 Policy. The latest order confirmation is dated 26-4-1983, which has been ..... X X X X Extracts X X X X X X X X Extracts X X X X
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