2019 (2) TMI 1256

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..... ables is meaningless without examining the corresponding entry for goods lying unsold and the logical trajectory of the lower authorities is patently erroneous. It is admitted that all the goods were not sold in the year of import and no evidence is on record to controvert this finding. Accordingly, the inclusion of the said amount in the balance sheet for the financial year 2008-09 suffices to e .....

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..... d on 23rd June 2008 which was upheld in the impugned order on the ground that the burden of proof of having borne the incidence of 4% of special additional duty on import of steel rails against six bills of entry filed between 29th July 2007 and 10th March 2008 had not been discharged. It is not in dispute that the sale of the imported goods straddled over 2007-08 and 2008-09 which is not surpri .....

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..... low principles of double entry book-keeping. The head receivables can be enhanced, in the present context, only with a reduction in the value of stock of goods. Till then the duty burden is inherently vested in the goods. The test of exclusion from receivables is meaningless without examining the corresponding entry for goods lying unsold and the logical trajectory of the lower authorities is .....

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