9911796707
TMI Blog2014 (2) TMI 52X X X X Extracts X X X X X X X X Extracts X X X X ..... the amount of Rs.52,33,463/- relating to the foreign supplier sale and it was not reflected in the documents pertaining to the delivery of goods to M/s.Munasser Leather Private Limited and that Form XX reflected the value to the extent of Rs.32,50,000/- only. There being no further material that what was returned as purchase return was to the tune of Rs.52,33,463/-, we do not find any justifiable ground to accept the plea of the assessee that it is entitled to exemption on the entirety of Rs.52,33,463/-. The assessee, did not prove as a matter of fact that it had returned the entire imported item but on the other hand it stated that it used a portion of the imported wet blue skin. In the background of this admitted fact and that there are n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Kenya. Admittedly, a portion of the wet blue skin was used by the assessee for conversion into finished leather. Stating that the import in entirety was unfit for its use, the assessee is stated to have corresponded with the foreign supplier and there afterwards, the same were handed over to M/s. Munasser Leather Private Limited as per the instructions from the foreign supplier. The assessee stated that this was informed to the Reserve Bank of India, General Manager, Exchange Control, Chennai. The bill of entry and bill of lading was transferred to M/s.Munasser Leather Private Ltd., In the return filed, the assessee stated that the purchasers returned back to the foreign supplier the goods to the extent of Rs.52,33,463/- and on the directi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... circumstances, the First Appellate Authority agreed with the assessee and set aside the order of the Assessing Officer on this turnover. The First Appellate Authority further pointed out that records like the letter addressed to the Exchange Control Department, Reserve Bank of India, the letter addressed by the purchaser of the assessee to hand over the bill of entry and acceptance by them towards payment of clearing charges and to remit the money to the foreign seller. Entries in the assessee's books would establish the fact that the goods ultimately reached M/s.Munasser Leather Private Limited only and were not disposed of by the assessee by way of sale. So holding, the Appellate Assistant Commissioner set aside the order of assessment. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... x Appellate Tribunal set aside the order of the Appellate Assistant Commissioner in granting exemption to the tune of Rs.52,33,463/- and restricted the relief to the assessee to the extent of Rs.32,50,000/- and held that the remaining amount of Rs.19,83,463/- would be taxed at 4%. 5. Aggrieved by this, the assessee has preferred the present revision. 6. Learned Counsel appearing for the assessee submitted that when the Sales Tax Appellate Tribunal had found that there was no sale consideration received and an outright sale not having taken place between the assessee and M/s.Munasser Leather Private Limited, the question of restricting the turnover to Rs.32,50,000/- for the purpose of grant of relief was unsustainable and that it does no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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