9911796707
TMI Blog2011 (12) TMI 438X X X X Extracts X X X X X X X X Extracts X X X X ..... 8,00,000.00 under Rule 173Q, and being aggrieved by the Order-in-Appeal No. 275/BBSR-I/2004, dated 10-12-2004, the Revenue filed another Appeal. The issue involved in both these Appeals is common. Therefore, they are being taken up together for disposal. 3. Briefly stated the facts of the case are that the Assessee is a 100% EOU and they had also cleared the goods to Domestic Tariff Area (DTA) during the period from 16-9-1999 to 14-3-2001. They had cleared their goods by arriving at the assessable value in terms of the Board's Circular No. 512/91/93-Cus-IV, dated 18-5-1994, whereas the Department's view was to charge duty by arriving at the assessable value in terms of the Circular No. 7/2001, dated 6-2-2001. The Department had also r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ken by this Tribunal in the case of Futura Polymers (supra) and held that the method as adopted by the Revenue for the calculation of duty of Customs is valid only after 1-3-2002. The contention is that the Board through its Counsel intimated the Hon'ble Supreme Court that the Department accepted the Larger Bench's decision in the case of Indoworth India (supra) and in view of this, the Hon'ble Supreme Court vide its Order dated 12-10-2011 dismissed the appeal filed by the Department against the Tribunal's decision in the case of Futura Polymers Ltd. (supra). Thus the issue stands settled in favour of the Assessee for the period prior to 1-3-2002. Insofar as the demand of duty on value of stock-transfer is concerned, the contention of the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r as the valuation for DTA sale is concerned, we agree with the contention of the Assessee that the issue stands settled in view of the decisions in the case of Futura Polymers Ltd. and Indoworth India Ltd. Undisputedly, the period involved in this case is prior to 1-3-2002, which is covered, vide the procedure prescribed under the Circular dated 18-5-1994. The Assessee had calculated the duty, vide the method prescribed under the aforesaid Circular, which is also not in dispute. Therefore, the demand to this extent is not sustainable. Insofar as the valuation in case of stock-transfer is concerned, the assessable value for sale to independent buyers is available, and it is not in dispute that the Assessee had paid the duty as per such asse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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