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TMI Blog2008 (12) TMI 163X X X X Extracts X X X X X X X X Extracts X X X X ..... 15-12-2008 - Shri P. Karthikeyan, Member (T) Shri S Krishnanandh, Advocate, for the Appellant. Shri M.K.A.K. Mohiddin, JDR, for the Respondent. [Order]. - This is an application for early hearing filed by M/s. SRF Polymers Ltd. (SRF). At the request of both parties, the appeal proper is taken up for hearing and disposal. 2. SRF imported a consignment of Nylon Filament Yarn (NFY) and warehoused the same in customs bonded warehouse by filing Into Bond Bill of Entry No. 902947 dt. 3-11-05. A quantity of 3250 kgs. of the warehoused goods was not cleared within the warehousing period of one year. The importer did not seek extension of the warehousing period. Thereupon the Asst. Commissioner of Customs (Bonds) initiated proceed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the relief envisaged under that Section. In the instant case, the goods had been damaged before the (sic) they had been warehoused. SRF did not intimate the damage suffered by the impugned goods to the proper officer of customs before the expiry of the warehousing period in respect of the impugned goods. Accordingly, he denied the benefit of assessment of the impugned goods on its value in the damaged state. 3. The appellants have taken the ground that the consignment was subjected to examination by insurance surveyor between 10-11-05 to 13-11-05. At the time of warehousing of the consignment, the deposit challan issued by the customs bonded warehouse had carried an endorsement that 130 cartons had been received in wet condition. There ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich the permitted period of warehousing or its extension came to an end. The imported goods entered for warehousing under an Into Bond Bill of Entry are assessed to duty at the time of warehousing. in terms of Section 15(1)(b) of the Act, when an Ex-bond Bill of Entry or Bills of Entry are filed for clearance of the warehoused goods for home consumption, they are reassessed to duty only if there is any change in the rate of duty or tariff valuation, or when the value of the goods are re-determined in terms of Section 22. In the instant case, no Bill of Entry was filed for clearance of the impugned goods. No intimation was furnished to the proper officer as regards the damage suffered by the impugned goods before its warehousing even during ..... X X X X Extracts X X X X X X X X Extracts X X X X
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