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TMI Blog2001 (10) TMI 1087X X X X Extracts X X X X X X X X Extracts X X X X ..... blocks. The marble blocks are converted into slabs by cutting and fibre filling. On marble blocks they pay excise duty @ Rs. 30/- per sq. mtr. The Exim Policy provided for import of marble blocks against the cover of Specific Import Licences. Freely transferable specific import licences were available at a nominal premium in the market. On and from 1st April, 2001 imports were permitted only under Specific Import Licence. The assessee having set up the manufacturing facility they had no option but to continue import of marble blocks. They expected that they would be given specific import licence by the DGFT. When the import had taken place in June, 2001 they expected that the DGFT would give the import licence. That not having been taken ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . In another case at Ahmedabad Collectorate, the Commissioner of Customs (P), Gujarat, has fixed the market value at 10% of landed cost. He submits before us order-in-original No. 17/Commr/2001, dated 12-3-2001. On the other hand, learned DR, in an emphatic way, argues that the method adopted by the adjudicating authority in relying upon the market enquiries as well as the Board s review order which in turn relies on the decision of the CEGAT, is perfectly in order and he argues that the applicant does not have any arguable case. 3. The Counsel for the applicant requests for exercising our inherent powers for clearance of the goods. The goods had arrived at Nhava Sheva on 16th June of this year and the bill of entry was filed on 20th of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ma facie cannot turn around and take a lower declared value for purposes of calculation on profit. We are mindful of the fact that the importer expressly agreed to the enhancement of the value. This, in effect, would mean that he had accepted the wrong declaration by him of the value. In that situation, it is perhaps possible to invoke Section 111(m) of the Act; that however would not give the Commissioner authority to take one value for purposes of assessment to duty and another for determining profit. Therefore, for purposes of profit, it is the value of Rs. 86.85 lakhs that has to be taken. In that case the redemption fine, wiping out the profit, would be Rs. 29 lakhs and after deducting demurrage, etc., would be much less. The earlier o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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