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TMI Blog2011 (1) TMI 1252X X X X Extracts X X X X X X X X Extracts X X X X ..... al material it is not possible to come to any conclusion in that regard. We see full force in the submission made by the learned Government Advocate. Therefore, it would be appropriate to set aside all these orders and remand the matter back to the assessing officer so that the appellants would be free to place all relevant materials and then the assessing officer shall pass appropriate orders after carefully going through the said material. That would meet the ends of justice. Appeal allowed by way of remand. - 108 of 2009 - - - Dated:- 6-1-2011 - KUMAR N. AND RAVI MALIMATH, JJ. The judgment of the court was delivered by N. KUMAR J. This appeal is by the assessee against the order passed by the Additional Commissioner of Comme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sale bill by the foreign seller to the RBI cannot be regarded as purchase cost of the goods purchased. The differential amount so paid by the appellant is not a price variation but it is a currency variation. It cannot be considered as part of the purchase price for the simple reason that the said differential amount has not been paid to the foreign seller as a consideration towards the purchase of goods instead, the said amount is paid to the statutory body, i.e., Reserve Bank of India as per the norms and regulations stipulated under the import and export policy of the Government of India. The nomenclature given by the assessing authority is the suppressed turnover of purchase as deemed sales determined is found to be not suppressed turno ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cannot be construed as a turnover and the assessee cannot be made to pay the tax on the said amount. Per contra, learned Government Advocate submitted that absolutely no material is placed on record before any of the authorities to show what is the price agreed upon, what is the actual payment made to the purchaser and what is the exchange rate of American dollar on the day the order was placed and on the day the goods was received in India. Similarly, there is no material on record to show that the assessee has paid difference in amount to the Reserve Bank of India. It is under these circumstances, he submits, it is not safe to accept the submission of the assessee and it requires to be looked into with reference to the facts and the d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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